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Fed Surprise Coronavirus Rate Cut; More Cuts Possible

Well, they went and did it. In the words of the astronaut George Taylor (played by Charlton Heston) at the end of the original “Planet of the Apes” movie, “They finally really did it,” he says, while pounding the surf. It was the nuclear option.

So the Federal Reserve’s Open Market Committee (FOMC) “surprised” markets Tuesday with a 50 basis points rate reduction to the Fed funds rate, bringing it to a range of 1.00%-1.25%. I put surprise in quotes because I think the only shock ...

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