Bold moves by the fed dropping rates by 0.75% – well done!

I contemplated writing the blog as soon as the rates dropped, but I thought I would see the reactions around the world before making comment, and its interestingly mixed.

I think its perfectly justified to step in and make the brave decisions, its just a shame we havent got the balls in the UK to do the same. We need the same level of drops before the middle of this year, and wouldnt it be great if we took the decision to stablisie the UK sooner rather than later, because believe me the country needs it.

The Telegraphs headline this morning of “US in panic move to halt slide” is in my oppinion a childish and ill informed swipe, the FT is more like it “Fed slashes rates to Halt sell off”. After all it wasnt a panic, they obviously had mechanisms in place to act if and when it needed to do so, and why wait several weeks or months delaying the inevitible. I am curious to find out if we have the same flexibility in the UK – if we havent, why not ?

Disturbingly the Bank of England have commented this morning that we wont be following suit, what I would like to hear however is that if we need to drop we will and promptly. It seems to me that the Govt want us all to feel the pain for quite a few months more before reducing the vice around our purse strings. If the rates are going to drop by this level over the next 4-6 months, why not do it now ?

Lets follow like Americas puppy sooner please.

Your frustrated Trumpo.

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