Blinder

The U.S. Federal Reserve cut its target interest rate to a never-before seen low of between zero and  0.25 percent.  The move was widely seen as a signal that the central bank will act very aggressively to boost the economy as it moves into unchartered waters. It is also, perhaps, a sign that it’s even more worried about the state of things than it has let on. So, interest rates have been cut as low as they can go. What next?