Act now or face a bloodbath, Wall Street urges governments as virus hits markets
Analysts call for central banks to cut rates and offer to buy risky assets
09 March 2020 - 19:05
London — Financial markets have thrown down the gauntlet at governments worldwide: act now to stave off disaster.
Having forced the Federal Reserve into its first emergency rate cut since the 2008 crisis, a free fall in stocks on recession panic is raising the ante for policymakers. US financial conditions are now the tightest since 2011, spurred by the oil-price collapse and growing cases of the coronavirus. The fear is that market stress will hit economic growth just when aggregate demand takes a hit, with businesses and consumers in lockdown...
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