The Federal Reserve announced a rate cut Tuesday to help the economy in the fight against the coronavirus. But jdlahart explains why the central bank’s move is no miracle cure. WSJWhatsNow
Maybe the best thing that can be said about the Federal Reserve’s interest-rate cut on Tuesday is that the central bank got it out of the way.
After all, with evidence piling up that the new coronavirus epidemic may represent the most serious threat the economy has faced since the last recession, and with economists repeatedly cutting their economic forecasts, a rate cut by the time of the Fed’s meeting scheduled for later this month seemed a done deal.
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