Stock futures plummet — hit ‘limit down’ — even as Fed slashes rates; Dow futures off 1,000 points
Stock futures plummet — hit ‘limit down’ — even as Fed slashes rates; Dow futures off 1,000 points
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Stock futures plummet — hit ‘limit down’ — even as Fed slashes rates; Dow futures off 1,000 points
Stock futures plummet — hit ‘limit down’ — even as Fed slashes rates; Dow futures off 1,000 points
Irrational? I am not sure its irrational. I suspect NZ debt to GDP is the highest ever. Responses to a crisis is lower interest rates (even negative in some countries), Cash under the mattress is better than paying the bank for the privilege providing you don't get robbed.The open bank resolution will lock-up and use a portion of depositors money to help banks get through a crisis and will pay you back whatever is left. The mindset of those in charge seems to preclude the possibility of calling in security from struggling borrowers in case house prices fall. For an older couple with no prospects of coming back from a crisis it would be frightening. I am unsure it is irrational as depositors have been consistently screwed by central banks since the GFC and there is no reason to think this won't continue or get worse.
Sorry not really related to this thread.
listening to powell on his conference call saying they just trying to smoothing the fall thats all
Powell also announced that the Federal Reserve eliminated all reserve requirements for banks, which are now free to make as many loans as they want regardless of the level of Federally insured deposits they actual have. What could possibly go wrong?