Floored market clamors for measures beyond second rate cut

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Floored market clamors for measures beyond second rate cut

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March 20, 2019 - Washington, DC, United States of America - U.S. Federal Reserve Chairman Jerome Powell answers a questions during a press conference following the Federal Open Market Meeting March 20, 2019 in Washington, DC. The Federal Reserve announced they will hold interest rates steady and indicated that no more hikes will be coming this year. (Credit Image: © Britt Leckman via ZUMA Wire) | Britt Leckman/Zuma Press/PA Images

The Federal Reserve cut rates for a second time this month on Sunday by 100bp, bringing the target range to near zero. Despite the central bank taking swift action to halt the market decline caused by Covid-19, sources are expecting a painful recession if fiscal policies are not implemented to blunt the impact to the most vulnerable parts of the economy.

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