hozhai (hozhai) wrote,

The Economist wrote about the Fed. I like the style!

Mar 16th 2020
Central banks are not known for their spontaneity. They do not tear up their calendars lightly. And when they do, it is not usually a good sign. Both the Bank of Japan and America’s Federal Reserve were scheduled to hold policy meetings later this week. But neither felt they could wait that long.
On March 15th—a Sunday—the Fed cut its benchmark interest rate by a full percentage point, lowering it to the range of 0-0.25%, as low as it has ever gone. It was the central bank’s second emergency cut outside a scheduled meeting in less than a fortnight. The Fed also made it cheaper and more convenient for banks to borrow directly from its “discount” window (an option banks have traditionally avoided because it makes them look desperate).
(Жирный шрифт -- мой, есличо.)
Tags: crisis

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