"Monetary policy can do very little". Cutting rates between meetings is rare and reserved for especially delicate moments. Markets have been doing much of the Fed's work already, with market-determined interest rates falling to record lows.
"The magnitude, both in terms of human and economic costs, of an outbreak in the US remains very uncertain".
"Stocks looks pretty cheap to me", National Economic Council Director Larry Kudlow told Fox Business on Friday, saying that there is no "guarantee" that cases of the coronavirus will skyrocket in the U.S.
Allen Sukholitsky, chief macro strategist at Xallarap Advisory, told The Epoch Times in an emailed statement that market sentiment has reacted so violently at last week's sharp correction of key Wall Street stock indexes is that investors have come to expect unusually low volatility in what is fundamentally a risky class of assets.
Former Fed board member Kevin Warsh on Friday argued for emergency action by major central banks as soon as this weekend, but such a dramatic move appears unlikely. "This is now about preventing the soft-patch on the demand-side of the economy from becoming a recession", he said.
The US Federal Reserve stands ready to take action amid risks posed by the novel coronavirus crisis, the central bank's chair Jerome Powell said on Friday, while insisting that the US economy remains in a good position.
A dealer reveals USA greenback notes at a forex alternate sales space in Karachi, Pakistan December 3, 2018.
Powell said the fundamentals of the USA economy "remain strong" but noted that "the coronavirus poses evolving risks to economic activity". "We will use our tools and act as appropriate to support the economy".
Polanski wins Cesar Award, prompting walkout
The director also fled the United States after pleading guilty in 1977 to having unlawful sex with a 13-year-old girl in Los Angeles.
Wall Street sell-off deepens as virus spread sends investors fleeing
American Airlines fell 4.3% as airlines continue to feel pain from disrupted travel plans and suspended routes. More companies including Microsoft and Budweiser maker InBev are warning their results will be hurt.
Taj Mahal but no trade deal for Trump in India
Later today, Trump will arrive in Delhi, meet some delegates tomorrow morning, attend a banquet in the evening before flying out. Rupani's statement came in the backdrop of speculation that the United States president will not visit the ashram.
After a weeklong and accelerating market sell-off, some analysts were waiting for such a signal from Powell.
He added that the lag effect of rate moves likely will continue to help the USA and pointed out that the three cuts was a bigger monetary boost than the market has appreciated as the 2-year Treasury saw a slide of 165 basis points, compared with the actual 75 basis point cut the Fed instituted.
The Fed cut rates at its meetings in July, September and October, but has since been on hold and indicated it planned to be so long as there was no "material change" to the outlook.
President Trump speaks to reporters about coronavirus, 2020 Democrats and the Federal Reserve.
Bullard said China's growth will be hurt in the first quarter and while cases are growing at a slower rate there, new cases of the virus continue to rise elsewhere.
The benchmark federal funds rate is between 1.5 percent and 1.75 percent. On Friday afternoon, traders priced in a 96% likelihood that the central bank would announce a half-point cut in March, according to the Chicago Mercantile Exchange's Fedwatch tool.
"The Fed has shown that it will respond more quickly to an inversion in the yield curve, and a rate cut could help bolster investor sentiment", he said. Will that be enough to settle down markets in the near term?
The stock market has plummeted 13 percent this week over widespread concerns that the coronavirus will become a global pandemic that could drive the USA and global economies into recession.