Larry Summers: Fifty Basis Rate Cut, Fed is Running Out of Ammunition

Mar.03 — Former U.S. Treasury Secretary Larry Summers comments on the Federal Reserve’s emergency rate-cut decision on “Bloomberg Markets.”

Fed Rate Cut Strains Central Bank Peers With Less Room to Follow

The Federal Reserve’s decision to slash U.S. interest rates to contain the economic damage from the coronavirus leaves policy makers in Europe and Japan under more pressure from investors to follow suit even though they have less scope to do so.

The Fed’s Last Hurrah: NorthmanTrader

So markets want reassurance, but the Fed’s move today reeks of desperation and panic, but they are throwing the kitchen sink at it and liquidity may just overwhelm everything for now.