A coordinated global interest rate cut by the top central banks will happen this Wednesday, March 4.
- So says economist for the U.S. bank lobby Bill Nelson, chief economist at the Bank Policy Institute
Nelson, formerly at the Federal Reserve (worked on the Fed's responses to the 2007-2008 financial crisis):
- It will happen before the U.S. stock market opens, either 7 a.m. or 8 a.m. ET (1200 or 1300 GMT)
- It will be half a percentage point at least
- "The only way to get a positive market reaction is to deliver more than expected"
- will include "forward guidance"
Here is the link for more: Don't keep your powder dry
