For the first time since the financial crisis more than a decade ago, the Federal Reserve made an emergency interest rate cut and reduce the benchmark fed funds rate by 50 basis points. With the adjustment, the target range has been brought down to one percent and 1.50 percent. The U.S. central bank finally blinked […]
Federal Reserve
Will the Federal Reserve prescribe medicine or a placebo to fight the coronavirus?
By: Andrew Moran You might wonder whenever the U.S. economy experiences a slight cough or a terrible case of rheumatism if the Federal Reserve’s proposed monetary cures are effective medicine or a placebo. Over the last 12 months, a few central bankers have let the cat out of the bag that the Eccles Building is developing policy […]
As market crashes again, ex-Fed head thinks coronavirus could trigger a U.S. recession
Another day, another steep triple-digit loss in the stock market. While the Dow Jones has shown some signs of rebounding, the index is still deep in the red. Simply put, unless you own coronavirus stocks, you are losing a ton of money right now. The situation may be improving in China, but the outbreak is […]
Random Friday: U.S.-Taliban truce, economics of love, maximum wage
News Story of the Day: The Associated Press reported on Friday morning that the U.S., Afghanistan, and the Taliban have reached a truce. President Donald Trump is apparently in agreement with the peace proposal in principle, which could see the reduction in the number of troops participating in a two-decade-long war. President Trump has talked […]
PARTY LIKE IT’S 2007: U.S. household debt surges to record high $14 trillion
It’s time to party like it’s 2007? According to a new Federal Reserve Bank of New York (FRBNY) study, household debt has risen the most in 12 years, climbing by $601 billion in 2010. In total, household debt has exceeded $14 trillion for the first time in the nation’s history. The surge was led by […]