Coronavirus Forces Fed Rate Cut – What This Means For You
The Coronavirus has forced a Fed Rate Cut, but what does this federal interest rate cut mean to you? Find out in today’s video!
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The Federal Reserve has cut interest rates by half a percentage point in an emergency move brought about in the wake of this worldwide fear of Coronavirus.
What does this mean for you?
The good is in the lower borrowing costs, but the bad is that savers will earn even less on their money – a point that won’t be bad at all for those that follow the principles taught on this channel.
Why is this rate cut coming about?
Late 2008 is the last time the Fed cut rates by half a percentage point, and we all know what was happening at that time, so does this rate cut mean we should start to panic about the foreseeable financial future here in the US?
In a meeting with reporters, Fed Chairman Jerome Powell said that “The fundamentals of the US economy remain strong, but the spread of the coronavirus has brought new challenges and risks.”
Patrick Bet David from Valuetainment talks about Coronavirus Fear vs Danger: https://www.youtube.com/watch?v=mZG0yUSZsoQ
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