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MISES WIRE: The FED's EMERGENCY RATE CUT (from last week) tells MARKET PARTICIPANTS that the SITUATION is MUCH WORSE THAN IT SEEMS
Posted By: NaturalWisdom Date: Saturday, 9-Jan-2021 07:27:41
www.rumormill.news/142045
In Response To: George Ure's Urban Survival: Forget the Virus: Fear The Greater Depression (NaturalWisdom)
The Fed Panicked, and Its Rate Cut Is Making the Economy Worse
Daniel Lacalle | Mises Wire
Mar 9, 2020
[snip]
Less than a week ago, several members of the Federal Reserve board reiterated—rightly so—that cutting rates would not have a significant impact in a supply shock like the current one. We must also remember that the Federal Reserve already cut rates in 2019 and inflated its balance sheet by 14 percent to almost all-time highs in recent months, completely reversing the virtually nonexistent prior normalization.
Only a few days after making calls for prudence, the Fed launched an unnecessary and panic-inducing emergency rate cut and caused the opposite effect of what they desired. Instead of calming markets, the Federal Reserve's 50–basis point cut sent a message of panic to market participants.
If the jobs and manufacturing figures are better than expected, and the economy is solid, with low unemployment, what message does the Fed's emergency cut transmit? It tells market participants that the situation is much worse than it seems and that the Fed knows more than the rest of us about how dire everything can be.
It is a communication and policy mistake driven by an incorrect diagnosis: the idea that the market crash would be solved with easy monetary policy instead of understanding the impact on stocks and growth of an evident supply shock due to the coronavirus epidemic.
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RMN is an RA production.
Articles In This Thread
- REPOST: ARE ELITE BUGGING OUT? RUMOR that an ENORMOUS TRAIN of WHITE BUSES just VANISHED off the END of a DENVER AIRPORT RUNWAY
NaturalWisdom -- Saturday, 9-Jan-2021 07:27:41
- George Ure's Urban Survival: Forget the Virus: Fear The Greater Depression
NaturalWisdom -- Saturday, 9-Jan-2021 07:27:41
- MISES WIRE: The FED's EMERGENCY RATE CUT (from last week) tells MARKET PARTICIPANTS that the SITUATION is MUCH WORSE THAN IT SEEMS
NaturalWisdom -- Saturday, 9-Jan-2021 07:27:41
- Dex's Pre-Market PulseScan [Monday, March 9, 2020] - BEWARE THE IDES OF MARCH - ECONOMIC 911 [2+ hour video]
NaturalWisdom -- Saturday, 9-Jan-2021 07:27:40
- What is the origin of the phrase 'Beware the Ides of March'?
NaturalWisdom -- Saturday, 9-Jan-2021 07:27:41
- Re: MISES WIRE: The FED's EMERGENCY RATE CUT (from last week) tells MARKET PARTICIPANTS that the SITUATION is MUCH WORSE THAN IT SEEMS
HotCoffee -- Saturday, 9-Jan-2021 07:27:40
- Reader: "They do not want the average Joe to see what is starting to happen to them."
hobie -- Saturday, 9-Jan-2021 07:27:40
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