The Fed will have to do a lot more than cut rates to zero to stop Wall Street's coronavirus panic
- Written by Alexander Kurov, Professor of Finance and Fred T. Tattersall Research Chair in Finance, West Virginia University
A sea of red.AP Photo/Craig Ruttle
The Federal Reserve is 0 for 2 in its fight against Wall Street’s coronavirus panic, seeming to confirm perceptions of the central bank’s impotence.
The Fed’s first attempt to calm thing down – a half-point surprise rate cut on March 3 – failed because markets knew the Fed was almost...