Tomorrow’s (Monday, March 9) Dow to drop 1,200 at opening bell (Congress, Reagan)
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Agreed. The Fed has far greater influence behind the scenes. Although I think because of the internet, more people are aware of the role the fed plays in making and breaking markets. But the Fed can't make it rain for ever. They are out of ammo thanks to the era of ultra low interest rates, QE4eva, and the resulting high debt load.
The EMERGENCY 0.50% rate cut last week had no impact.
POTUS does not control markets, despite the cringe- worthy effort Trump has invested in claiming otherwise.
His ineptitude regarding corona is, however, having an effect on the markets. Assuming corona does take off in the US, his ineptitude will have a real effect on the actual economy.
Plus this is inter-day. You are comparing a inter-day price with previous closing prices. We will see where it is at the end of the day. Likely the FED will say something to calm down the market.
The FED already said something last week, and things only got worse, and now they are out of ammo.
Last edited by Finn_Jarber; 03-09-2020 at 08:31 AM..
The EMERGENCY 0.50% rate cut last week had no impact.
Might have had a negative effect as people saw it as an act of desperation. And now with the lower rates the Fed has even less influence over the economy. And from day one of his presidency Trump has been pushing the Fed for lower rates.
Newsflash: Trump supporters never voted for Romney, McCain, Bush.
They voted for Obama?
I live in a Republican majority area. It was a sea of Romney signs in 2012. No Trump signs in 2016 although the community continued to vote the Republican ticket.
Fox News supports the Republican ticket, no matter who.
I understand that gatherings have been discouraged, but have outdoor cafes explicitly been ordered to shut down? If no such law has been ordered, there is nothing for the military to enforce in the picture shown.
From day 1 I have said that the Fed needed to increase rates so they would have ammo to use in a situation like this. Instead, they were foolishly engaging in the functional equivalent of QE at the behest of the President even when the economy was humming along. Now that the wolf is at the door, the chamber is empty. It was so predictable.
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