Recent Updates
- UK: Gfk Consumer Confidence Barometer (Jan)
- Japan: CPI (Dec)
- US: New Residential Construction (Dec)
- New Zealand: External Migration (Nov), CPI (Q4)
- more updates...
Economy in Brief
Philadelphia Fed Manufacturing Index Jumps in January
The Federal Reserve Bank of Philadelphia Factory Sector Business Conditions Index jumped to January to 26.5...
U.S. Initial Jobless Claims Ease, but Are Still High
Initial claims for unemployment insurance fell to 900,000 in the week ended January 16...
French Surveys Improve Despite Ongoing Virus Issues
The spread of the virus in Franc is still untamed...
U.S. Home Builder Sentiment Slips in January
The Composite Housing Market Index from the NAHB-Wells Fargo declined 3.5% m/m (+10.7% y/y) in January...
Decline in Refinancing Drags Down U.S. Mortgage Applications
The MBA Mortgage Loan Applications Index fell 1.9% w/w (+56.2% y/y) in the weekend January 15...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller March 16, 2020
The Federal Reserve lowered the target for the Fed Funds rate by 100 basis points to a range of 0.00% to 0.25%.
In the Fed's press release, it stated "The coronavirus outbreak has harmed communities and disrupted economic activity in many countries, including the United States."
Additionally, the Fed launched a $700 billion quantitative easing program designed to add further liquidity to the economy.
"Voting for the monetary policy action were Jerome H. Powell, Chair; John C. Williams, Vice Chair; Michelle W. Bowman; Lael Brainard; Richard H. Clarida; Patrick Harker; Robert S. Kaplan; Neel Kashkari; and Randal K. Quarles. Voting against this action was Loretta J. Mester, who was fully supportive of all of the actions taken to promote the smooth functioning of markets and the flow of credit to households and businesses but preferred to reduce the target range for the federal funds rate to 1/2 to 3/4 percent at this meeting."
Current | Last | 2019 | 2018 | 2017 | 2016 | |
---|---|---|---|---|---|---|
Federal Funds Rate Target | 0.0% - 0.25% | 1.00% -1.25% | 2.16% | 1.83% | 1.00% | 0.40 |