Sunday at 5PM the White House scheduled a press conference to be headed by VP Pence about the coronavirus situation. It began though with a surprise announcement by President Trump of Federal Reserve action to lower interest rates to zero and to begin a new $700 monthly billion QE operation. This is the first time the Federal Reserve has ever taken a policy action on Sunday afternoon and comes on top of its $500 billion Treasury bond QE program. The Federal Reserve also announced that it was lowering the reserve limits for banks to zero.
Mike Swanson is the editor of WallStreetWindow.com. For more about this website hit the about us page in the top navbar. To get on our free stock trading update list scroll on down and put your email into the subscribe box.
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