portland independent media center  
images audio video
newswire article reporting united states

corporate dominance | economic justice

Federal Reserve Cuts Interest Rates For Third Time In 2019

the Federal Reserve (which is neither of those 2 words) announced yet another cut in interest rate, as was expected by savvy analysts, to keep the free-falling U.S. economy from collapsing altogether.

This third round of interest rate cuts is in addition to the quantitative easing which is en fuego to the tune of hundreds of billions of dollars per week being sent to Wall Street banks, which even Elizabeth Warren has lately raised questions about :  http://portland.indymedia.org/en/2019/10/437851.shtml

the Federal Reserve has a repo problem :  http://portland.indymedia.org/en/2019/10/437842.shtml

Trump, while simultaneously calling for devaluation of the/a weaker U.S. dollar, is outspending Obama by enormous magnitude :  http://portland.indymedia.org/en/2019/10/437849.shtml
The Disaster Of Negative Interest Rates

IMF: Global economy, financial system on brink of disaster

US Federal Reserve Starts "Quantitative Easing Forever" 31.Oct.2019 23:56


Two actions by US financial authorities this week indicate that the United States will respond to a looming downturn in the global economy by providing, once again, unlimited amounts of cash to financial markets.

On Wednesday, the Federal Reserve began an operation, lasting at least six months, to purchase around $60 billion of Treasury bills a month in response to sharp spikes in interest rates in overnight markets. The following day, in a separate action, the New York Federal Reserve injected $104.15 billion into financial markets to boost liquidity.

Together with the Fed's decisions to twice cut interest rates, with the prospect of another cut at the end of this month, these moves make clear that, in conditions characterised by the International Monetary Fund as a "synchronised" global slowdown, any efforts to "normalize" monetary policy are well and truly over.

The European Central Bank has reversed its plan to end financial asset purchases and lowered its base interest rate further into negative territory, while the Bank of Japan continues to be the virtual sole purchaser of government debt and a major buyer of corporate shares.

In other words, the policy of the world's major central banks, acting on behalf of a global financial oligarchy, is quantitative easing ad infinitum.