I thought the same exact thing. Maybe Wednesday they knock rates down to negative 0.25%%% Hahahah. More QE too, ahhhh. See how they begging propping up wallstreet. cant even give it time. They have to run in every single time to prop up the fuxking markets. This time futures are down. Guess wallstreet thinks the fed acted to quickly and maybe knowing now they have no where else to go but Negative rates.
Last year some online banks were paying over 2.5% in interest which was a huge amount compared to the whopping 0.10% people were getting in a regular savings account. Now that has entirely disappeared. you will now make absolutely nothing on your savings!!!!!!!!!!
So now can we please let these low interest rates trickle down where we can get a 30 year fixed mortgage rate for a cool 1.5-2% or is that too much to ask. Because a mortgage rate of anything above 3% with rates at 0% seems absolutely ridiculous.
I'm so tired of the commonly held belief that the Fed is panicking. THEY ARE MOVING OVERNIGHT RATES MORE INLINE WITH THE SHORT TERM US TREASURY MARKET. Powell has been behind the curve for weeks now, this finally puts rates in line. And if there's so much panic that treasuries go negative yields then Powell will have no choice but to follow that stupidity as well - an inverted yield curve isn't good for a slowing economy.
They are panicking....2 emergency rate cuts in less than a week, that's called panicking, especially bring them down over 1.5% to ZEROOOOOOO That's called panic mode.