Just announced. Thinkin it will take a lil more to pull this one out than the "coming heat" as per our infamous leader says! Once we enter into the "negative interest" twilight zone..be no more bandages left. Let's hope we're not on our way but doesn't look promising. 50 basis points should give the markets a temporary shot..... hopefully.
You nailed it Dutch!! Especially "those" who hold a $950 million mortgage on a Manhattan Office Tower, $567 million debt on San Francisco property plus sharing in $1.2 billion debt on other real estate ventures. Hey that's only $2.7 BILLION!! Likely all being interest floaters. Hey "I like debt" being "I'm The King of Debt"!! .......and we wonder why America's debt is increasing at alarming historical rates...huh?? Oh well, on the positive side my HELOC now is at 3.24%!!!
The cut will do no good. The market drop had nothing to do with the expense of borrowing money. This won't get people moving around and spending money that they would not do otherwise. And, when the time comes when easing interest rates would help, there is little room to move. Trump needs to keep stop bullying the fed. The man is a danger to this country. He will do anything try to keep the market going up and making his wealthy supporters happy while counting on the ignorance of his base to fail to see it. He is terrified that the market correction that is surely coming(maybe this is it)will take away one of his most used bragging points.
This is making it look like things are worse than are and has the appearance of an act of desperation. Things will not shake out for a while and when they do would have been a better time to decide what moves to make by the fed.
Well...just mebbie just a tincy wincy bit of "urging"!! lol
After this only bout 2 rounds left in clip. A large/politically motivated 50 basis point cut serves only to spook the market even further. At least to me....such recklessness really was no surprise. Just a continuation of his erratic behavior/poor fiscal management as no major U.S. company filed Chapter 11 more than Trump's empire under his management in the last 30 years. Same mentality/same person. Hopefully, America can weather a few more months of his wreckless fiscal policy.
From The Hill, a right center source:(Sept 09,2020
If this year Powell has had to put up with constant White House harassment and pressure, next year is bound to be worse for him.
In the run up to next year’s election, one must expect that Trump will keep calling for aggressive interest rate reductions and for a return to Fed bond buying. He will do so in the hope of artificially boosting the U.S. economy and keeping the stock market very high as a means to secure his reelection. He will do so even though unemployment might remain at close to its fifty-year low and inflation might be at close to the Fed’s target range.
Being the skillful politician that he is, Trump will also find it highly useful to keep setting Powell up as the fall guy to take the blame for any faltering in the U.S. economy next year. By blaming Powell’s reluctance to aggressively cut interest rates for any economic setback, Trump will hope that voters will not attribute the blame for any such slowdown to his reckless America First trade policy or to his allowing the budget deficit to balloon at a time of economic strength.
the donald wants further cuts. What's he going to do? Not much room for more tax cuts. He wants to waste all of his ammunition shooting at a target that is not the one that is causing the problems.
We need a responsible moderate republican that have the nads to challenge this guy and send him back to Florida full-time. It would all be worth it if that were to happen. Maybe the divisiveness could start to be healed. It is biggest threat to this country IMHO----of course.
His re-election antics(such as today) is costing unknowing taxpayers billions plus its sinking/destroying Treasury bond rates deterring attracting starved capital pushing America closer & to default. Next he'll say now another tax cut is needed!! UNBELIEVABLE!! He & his infamous Rochester College grad Larry Kudlow needs to go back to TV host/reality show performing....they have no place in the real world!!
Has he had Larry Kudlow go out and say a cheer for him yet?
I would expect trump is compiling a list of people to blame for the market drops. The panic over the virus, warranted or not, is nobody's fault. But that does mean the donald's paranoia doesn't have him believing it is a worldwide plan to make him look bad.
TDS would better be used to describe the mentality that keeps son many in his base from seeing any fault with the man. He's never called on his lies, his choices for his cabinet, his belief that he is above the law. It the kind of derangement that allow some to consider him to be a good business man even after all his bankruptcies and fake university fail.
I don't think that any reasonable person can honestly say they have seen any politician be worshiped at a level anywhere remotely close to that at which trumps base worships him. Camping out on sidewalks to get into a rally, wearing a maga hat as if it's some kind of crown, overlooking all his lies and things he is on tape saying about what he has done to women, even some making the claim that he is the "chosen one".
If there are any deranged it is the most base of the trump base.
The Fed is working in concert with the G7 countries to make adjustments, and you guys blame Trump?
Pre-Trump there was a harmonious working relationship between America and the G7 leaders. Now with America's isolationist stance (aka Trump Nationalism) coupled with his anti-environmentalism...... the relationship is "cool" to say the least.
Putin walked hand in hand with the donald-even had a private meeting with the guy. Has anything like that happened with any president and Russian leader? And, I know it's only been a little over three years, but Obama's two terms ended a while ago.