The Federal Reserve today cut short term interest rates 50 basis points in a well-telegraphed move (even though they tried to do a head fake); the markets rallied but since have sold off as traders now think the Fed has fired its big guns to no effect -- the coronavirus is still raging.
President Donald Trump is having none of it, and wants more action from American central bankers.
With the Chinese economy essentially shut down, and global economies at risk of slowing dramatically due to the rising pandemic, until some break in the spread of the disease is mentioned, markets will continue to be at risk as supply chains are interrupted or severed.
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