Perspectives: Impact of Coronavirus on Economy

Markets were in a state of near panic, deeply worried about the economic outlook. But then the Federal Reserve stepped up: its chairman issued a statement strongly suggesting that he would cut interest rates. And the market experienced a huge relief rally.

No, I’m not talking about Monday’s big market bump. I’m talking about Dec. 5, 2000, in the middle of what we now remember as the bursting of the dot-com bubble. (Actually, I wonder if some of my readers are too young even to remember that?) The Fed chairman...

President Donald Trump on Tuesday demanded that the Federal Reserve cut rates even more after the central bank announced it would slash rates by 50 basis points in an effort to combat the economic impact of the coronavirus outbreak.

The Fed “must further ease and, most importantly, come into line with other countries/competitors,” Trump tweeted.

“We are not playing on a level field. Not fair to USA. It is finally time for the Federal Reserve to LEAD. More easing and cutting!”