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FEd Rate cut is the silver bullet to save economy?
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Tesla, Coinbase and more: Trading in Singapore jumps on Trump win
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18 minutes ago
[SINGAPORE] Singapore's Trade and Industry Minister Chan Chun Sing said it'll take more than an interest rate cut by the Federal Reserve to boost sentiment in the global economy amid a spreading coronavirus outbreak.
ReplyDelete"It takes more than just a Fed cut to restore the confidence because people must see and feel for themselves the confidence in how governments are handling this in a coherent way," Mr Chan said in an interview Wednesday with Bloomberg TV's Haslinda Amin.
The Fed on Tuesday slashed interest rates by half a percentage point in the first such emergency move since the 2008 financial crisis, reflecting global policy makers' concern about the virus's impact on growth.
"I'm not sure that I would characterise it as a panic but I think many central banks in the world would want to work together to try to restore confidence in the current situation," Mr Chan said.
FED to cut towards 0 or 0.05% in the next 1 to 2 quarters?
ReplyDeleteThink they will cut 0.25% in next meeting on 18 March. If get worse should go toward 0% by 2H. Your guess is as good as mine.
ReplyDeleteThe global flight to the safety government debt continued on Friday as investors piled into U.S. Treasurys and sent the yield on the 10-year note to record lows.
ReplyDeleteThe yield on the benchmark 10-year Treasury note sank to 0.695% around 4:45 a.m. ET, breaking below 0.7% for the first time ever.
The plunge in yields came amid an exodus from stocks as disruptions to businesses on the back of the coronavirus outbreak heighten fears of a global slowdown.
The US national debt topped $22 trillion on Monday, and it’s the first time the debt has ever hit that threshold.
ReplyDeleteThe record follows a year in which the budget deficit was $779 billion, the highest since 2012, and the amount of debt issued topped $1.3 trillion, the most since 2010.
A debate is growing around how much the nominal amount of government debt really matters to the economy.
The US national-debt load surpassed $22 trillion on Monday, according to the Treasury Department. It’s the first time that the total outstanding public debt has topped that threshold.
A little less than $16.2 trillion of that debt was held by the public in the form of Treasurys, while the other $5.8 trillion was intragovernmental holdings.
The amount of debt being accumulated is also accelerating because of recent changes. The budget deficit in fiscal year 2018 (October 2017 to September 2018) hit $779 billion. The deficit measures the amount of revenue the government pulls in minus the government’s expenditures.
Additionally, a Treasury report estimated the total amount of debt issued during 2018 topped $1.3 trillion: the largest issuance of new debt since 2010.