Fed Meets Early, Cuts Rates to Zero03/16/2020

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The Federal Reserve met early over the weekend in lieu of their meetings scheduled for later this week. As expected, they decided to slash short-term interest rates by 1.00% to a 0.00%-0.25% target range. In addition, they announced a package to boost liquidity in bond markets. Their previous actions that they took to increase liquidity did not work as well as they had hoped, so they promised to buy $700 billion in Treasury Securities and Mortgage Backed Securities in a new package. With the interest rate cut widely expected, these Fed actions did not sway investors and markets are continuing to sell off.

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Commentaries are published by Cetera Investment Management LLC, an SEC registered adviser owned by Cetera Financial Group. Cetera Investment Management provides market perspectives, portfolio guidance, model management, and other investment advice to its affiliated broker-dealers, dually registered broker-dealers and registered investment advisers.

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