Emergency Fed cut an effort to appear decisive

The Federal Reserve voted to slash rates by 75 basis points to demonstrate decisiveness, minutes of the Federal Open Market Committee's (FOMC) January meeting reveal.

Many commentators have said the Fed panicked in opting to make its first emergency cut since September 2001 on the back of sharp falls in stock indices across Europe and Asia. Details of the FOMC conference call on the evening of 21 January, the day before the cut, show concern that the cut would be "misinterpreted as directed

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: