Fed releases minutes from meeting where it took rates to zero because of the coronavirus
The Federal Open Market Committee released minutes Wednesday of its March 15 meeting, during which it lowered its benchmark interest rate to near zero. The meeting summary indicated that not only did members believe it was important to use all their rate power now, but also that they intend to keep rates anchored at the bottom for the foreseeable future.
The meeting, held remotely on a Sunday afternoon, resulted in the committee taking down its policy rate to where it was during the financial crisis. All but one member voted in favor, with Cleveland Fed President Loretta Mester offering dissent. The decision also included a nod to the "forward guidance" the Fed uses to indicate the future path of policy. Market participants had been looking for whether the meeting summary would show an intent to keep the fed funds rate at its lowest level.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Fed Preparing to Purchase New Small Business Payroll LoansThe Federal Reserve said it would launch a new program to buy loans that financial firms make through the government’s emergency small-business lending program, according to people familiar with the matter
Consulte Mais informação »
State Funding Woes Are Dragging the Fed Into Muni-Market RebootReviving the market for bonds sold by state and local governments is shaping up as one of the stiffest tests in the Federal Reserve’s campaign to restore financial normalcy.
Consulte Mais informação »
Why Won’t The Fed Help States Facing A COVID-19 Cash Crisis?The muni bond market is worth nearly $4 trillion, but the Fed has been reluctant to jump in.
Consulte Mais informação »
The Fed is lifting Wells Fargo's asset cap so it can help lend to small businessThe Fed had imposed the restrictions following the bank's fake account scandal in which it created millions of accounts for customers without their knowledge.
Consulte Mais informação »
Fed eases Wells Fargo restrictions to speed small business loansThe Federal Reserve eased the punitive growth restrictions it placed on Wells Fargo after a raft of consumer abuse scandals, allowing the giant bank to offer government-backed loans to small and medium-sized businesses
Consulte Mais informação »