More On: Federal Reserve
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The Federal Reserve’s policy-making committee meets this week, and there’s really not much left for it to do, other than to repeat previous messages about being there if the country needs it. I asked Greg McBride, chief financial analyst at Bankrate.com, to sum it up so I wouldn’t have to. “The Federal Reserve has cut …
The Federal Reserve’s policy-making committee meets this week, and there’s really not much left for it to do, other than to repeat previous messages about being there if the country needs it.
I asked Greg McBride, chief financial analyst at Bankrate.com, to sum it up so I wouldn’t have to.
“The Federal Reserve has cut benchmark interest rates back to the near-zero levels we saw during and after the financial crisis — and like last time, rates are going to stay there for quite some time,” McBride said.
“In the meantime, the Fed’s liquidity programs to keep credit markets functioning are priority No. 1. Without that, there will be no recovery,” McBride added.
I’ll second that.
The only thing left for the Fed is to announce it will buy stocks. That would be very, very controversial.
And if that happens — and I’m not saying it will — it would create a massive furor during an election year. The Democrats would go nuts.
