To Be or Not to Be United
On March 15, the U.S. Federal Reserve announced it would slash its benchmark interest rate by 100 basis points to 0-0.25 percent, marking the return of the zero-interest rate era. The Federal Reserve also launched a quantitative easing scheme worth $700 billion.
On March 23, the Federal Reserve Board announced plans to remove its cap on the purchase of treasuries and mortgage-backed securities to stabilize the market, a policy that equals unlimited quantitative easing.
