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The Federal Reserve cut rates to zero and expanded quantitative easing on Sunday. How did the markets reward this latest monetary stimulus?They crashed.In his podcast, Peter said he thinks we've passed the point of no return.
The early signals from the coronavirus crisis point to a scale of damage unseen in the modern U.S. economy: the potential for millions of jobs lost in a single month, a historic and sudden plunge in economic activity across the nation and a pace of sharp market swings not seen since the Great Depression.
The meltdown in capial markets reveals the emptiness of the ECB's and The Federal Reserve's ammunition stores. The difference is the ECB is bankrupt.
France will spend 45 billion euros ($50 billion) to help small businesses and employees struggling with the coronavirus outbreak, the country's finance minister announced Tuesday.
"All trips between non-European countries and the EU and the Schengen zone will be suspended for 30 days," he said in a televised address to the nation.
It comes shortly after the world's largest carmaker by sales warned 2020 would be a "very difficult year," with the coronavirus outbreak posing "unknown operational and financial challenges."
This is the first in a two-part series.)As global supply chains break, airlines slash flights, borders rise within nation-states, stock exchanges convulse with fear, and recession looms over economies, from China to Germany, Australia to the United States, we can no longer doubt...
The economy is headed for a deep decline due to the coronavirus, says Deutsche Bank chief economist Torsten Slok, a leading economist.
The Philippine stock exchange chief said he plans to reopen the $188 billion market on Thursday, seeking a quick resumption of trading after the country became the first to shut financial markets in response...
If a 50 basis point rate cut is not enough to calm markets, then raise it to 100 basis points. That's probably what the US Federal Reserve has in mind in responding to market volatility caused by fears of the spreading coronavirus and its economic repercussions.
The U.S. has joined the eurozone and Japan in the “black hole” of monetary policy with interest rates effectively at zero. Reviving the economy is now up to others, primarily fiscal policy. But as the economy’s lender of last resort, the Federal Reserve can still prevent the economic crisis from becoming a financial crisis.
U.S. Markets Should Stay Open Despite Turmoil, Says Securities RegulatorMar 17, 2020 - 04:18:12 PDT
Some analysts speculated on Monday that closing the markets altogether might be the next step for regulators, which are rapidly running out of tools to arrest the turmoil.
Stress is building to dangerous levels in crucial arteries of the financial system.
U.S. regulators urged banks on Monday to access the Federal Reserve's discount window if they need emergency, short-term loans as the coronavirus pandemic threatens to disrupt the global economy.
Wall Street's Fear Gauge at Highest Level, Surpassing Financial Crisis PeakMar 17, 2020 - 04:05:11 PDT
The Cboe Volatility Index, known as the VIX, surged nearly 25 points to close at a record high of 82.69, surpassing the peak level of 80.74 on Nov. 21 2008.
"The rapidity of the falloff in the economy and the lack of preparedness in the United States and other Western economies before this means you're going to see a lot of defaults very quickly,"
With Europe reeling under the weight of a record number of new coronavirus cases, especially in Italy and Spain, both countries announced today they they are banning short selling for the foreseeable future.
Spain Nationalized All of Its Private Hospitals Goes Into Virus LockdownMar 17, 2020 - 03:59:37 PDT
Spain has put all private hospitals under government control indefinitely as the number of coronavirus cases surge in the country.
Supply chain disruptions will linger for months, threatening retail’s two busiest times: The back-to-school season and the holidays.
"I don't see how we get through this without wide-scale systemic solutions," said one top-tier investor. "We're going to have to rewrite the rules to get to the other side."