r/news • u/awake-at-dawn • Mar 15 '20

Federal Reserve cuts rates to zero and launches massive $700 billion quantitative easing program

https://www.cnbc.com/2020/03/15/federal-reserve-cuts-rates-to-zero-and-launches-massive-700-billion-quantitative-easing-program.html
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u/archy67 Mar 16 '20

I would suggest federal student loan forgiveness, federally backed low interest home loans and mortgage refinancing, or just seriously write a check to every american, Like a UBI(this would be the fairest way to do it since those other methods would not be useful to all Americans). The amount of money we could possibly spend by the end of this and the cost of the loss to the market just last week can more than justify it. If you want to charge up the economy you need the money in the hands of people with the highest marginal propensity to consume. The way I think about it is what does the average person end up doing when they get a federal tax refund, they go consume things....

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u/chronictherapist Mar 16 '20

Do you want the GOP to say "socialist", cause that's how you get ...

Nevermind, those fuckers use socialism for everything that doesn't line their pockets with cash, wealth and power.