Perspectives: Impact of Coronavirus on Economy
Headline Roundup March 3rd, 2020
Perspectives across the media spectrum have speculated about the potential impact of coronavirus on the US economy and jobs numbers.
Some left-rated voices expressed skepticism about economic growth during a potentially extended coronavirus pandemic, while right-rated voices generally expressed more optimism about the economy's ability to withstand pressure from the disease.
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!”
U.S. stocks capped their worst week since 2008 Friday amid fears that the coronavirus will become a pandemic. Though markets rallied Monday on expectations that central banks will slash interest rates, the Nasdaq was still down nearly 9% from its record close of 9817.18 on Feb. 19.
Nasdaq Inc. saw record messages and volumes last week. Nasdaq options markets registered an all-time peak of 62 billion messages on Friday, far above its daily average of about 18 billion over the past year. Similarly, Nasdaq U.S. equities volumes this week reached...