Invest in alarm clocks
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Well, That Didn’t Work
President Donald Trump couldn’t calm flailing markets. Now it’s Federal Reserve Chair Jerome Powell’s chance to give it a try. The situation continued to worsen yesterday as virus-related concerns rocked financial markets again, plunging the S&P500 back to levels of last October. The market response is not unreasonable. The magnitude, both in terms of human and economic costs, of an outbreak in the U.S. remains very uncertain. It is not a surprise that market participants should fall into the “sell first, ask questions later” mode. The Fed has a clear role to play in the current situation. This is not just ... (full story)