We know that the Federal Reserve will cut its benchmark interest rate this week, perhaps by as much as percentage point. That would bring its rate down to 2%.
One genuine and growing risk is that a rate cut by the Fed will send the dollar cascading lower. That’s why I expect (or perhaps more accurately hope) that we will see a coordinated and concerted action among central bankers and Treasuries around the world to prop up the value of the dollar.
What we don’t need is a financial catastrophe sparked by a sudden run on the greenback.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.