ML-Implode News - Negative interest rates in the US are virtually guaranteed now

... [the March 3, 2020] interest rate cut caused investors to panic even more. After the Fed made its announcement, the Dow Jones Industrial Average plummeted another 800 points. It's as if the entire market collectively thought, "Holy cow, if the Fed is taking EMERGENCY action, things must be even worse than we thought." So the rate cut had the opposite effect as intended.
The Fed also managed to confuse the hell out of everyone... which is something they've been doing a lot of lately. Last year, for example, even when they insisted that the US economy was booming and the unemployment rate was at a record low, they still cut rates by 0.75%... which is typically something they would only do when there's economic weakness.

And then, yesterday at 10am, the Fed announced that "the fundamentals of the US economy remain strong. . ." But just an hour later they changed their tune and said, "risks to the US outlook have changed materially." Go figure, the market tanked even more...
So the Fed basically blew a 0.50% rate cut and has absolutely nothing to show for it... as of yesterday morning, the Fed's benchmark interest was just 1.75%... This gives them VERY little room to cut rates further when the US economy enters recession, virtually guaranteeing that interest rates in the Land of the Free will go negative.

Relevant:

Negative interest rates in the US are virtually guaranteed now