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The Federal Reserve made a surprise emergency cut of 50 basis points to the federal funds rate on Tuesday in a desperate attempt to reduce the impact of coronavirus. Cutting rates won’t solve all problems; we don’t know how much the coronavirus will hurt the global economy. Stocks are
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The U.S. Federal Reserve slashed interest rates by 50 bps on Tuesday citing concerns about the coronavirus outbreak against the bleak economy.
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Bitcoin is trading in a positive zone against the US Dollar, especially after the fed interest rate cut . BTC price is likely to continue higher above the $8,900 and $9,000 resistance levels in the near term.Bitcoin is likely to gain traction after the recent breakout attempt against the US
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The Federal Reserve’s massive emergency rate cut caught Wall Street off guard on Tuesday. Jerome Powell confirmed how serious the economic impact of the coronavirus could be in the U.S. There is barely any stimulus left to help negate a stock market crash. While Donald Trump insists everything
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The price of Bitcoin (BTC) made a severe drop in the past week, similar to the heavy dropdown of the equity markets. However, equity markets have been showing strength this week with a strong relief bounce and today’s announcement from the United States Fed of a 50 bps rate
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Coronavirus is leaving a dent in the Chinese economy, as evidenced by the latest indicators on home sales, inflation and manufacturing productivity. The rapidly spreading virus threatens to disrupt trade and economic growth in key regions, leaving markets exposed to devastating pullbacks like we saw last week. The economic
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While the stock market craters, Fed funds futures markets now forecast a 96% chance of a Fed rate cut in March. Goldman Sachs expects three rate cuts from March through June. There’s also chatter about an emergency inter-meeting rate cut any day now. But other analysts say the Federal
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A massive recovery in the Dow Jones late on Friday helped lift the index to just a 350-point loss. A huge spike in trading volumes suggests a short covering lifted the U.S. stock market of an uncertain weekend. Trump is believed to be weighing tax cuts as part of
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U.S. stocks continue to reel over coronavirus-related fears, and investors are increasingly betting the Federal Reserve will slash interest rates to stabilize the economy and markets.But whether those investors turn to bitcoin (BTC) as a crisis hedge remains to be seen.Such action by the Fed could, in theory, help bitcoin
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The Atlanta Fed’s GDP Tracker is projecting annual growth of 2.7% in the first quarter despite the onset of coronavirus. If the forecast holds, it would mark the highest rate of expansion for the U.S. economy since Q1 2019. Fed prognosticators are notoriously bad at predicting the future. Their
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