Federal Reserve slashes rates to zero 03/15/2020

Federal Reserve slashes rates to zero and will be buying mortgage back securities. How will this impact mortgage rates if at all?

http://www.mortgagenewsdaily.com/consumer_rates/938844.aspx

Fed in full blown panic mode.

Looks like they?ll also be buying $500B of treasuries and $200B of MBS bonds in QE.  This is where the 30 year rate might go below 3%.

Would you say this means the fed is less scared, as scared, or more scared than they were in 2008?

I think they should be more scared.  And that is saying a lot, as 2008 was terrifying.

Troubling, too, is the much less direct effect this has on the problem.  Lower rates doesn't immediately help anyone that is going to be losing their job in the next 2 months.  And there will be many.

There goes the record unemployment rate.

Sh?t just hit the fan. What else is left in their arsenal after this?

Helicopter drop. Free 1k for every American citizen. Would that be the next step after this will ultimately fail?