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The Fed’s Baffling Response to the Coronavirus Explained
03-13-2020, 01:06 PM,
#1
The Fed’s Baffling Response to the Coronavirus Explained
The Fed’s Baffling Response to the Coronavirus Explained

<p>When the World Health Organization announced on February 24th that it was time to prepare for a global pandemic, the stock market plummeted. Over the following week, the Dow Jones Industrial Average dropped by more than 3,500 points or over 10%. In an attempt to contain the damage, on March 3rd the Federal Reserve slashed the fed funds rate from 1.5% to 1.0%, in their first emergency rate move and biggest one-time cut since the 2008 financial crisis. But rather than reassuring investors, the move fueled another panic sell-off.</p>


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