by Brian Maher
“If this doesn’t work,” wonders Seema Shah, Principal Global Investors central strategist…
“This” is of course the Federal Reserve’s desperate harum-scarum yesterday afternoon.
Mr. Powell and crew knocked down rates one entire percentage point. The federal funds rate now squats between 0% and 0.25% — zero essentially.
And so as a dog returneth to its vomit… the Federal Reserve returneth to zero.