Best Treatment for the Coronavirus? Paid Sick Leave
The Federal Reserve did what it could Tuesday to offset the growing economic impact of the coronavirus by announcing a supersize reduction in its benchmark interest rate — the first time the Fed has acted between its regularly scheduled meetings since the financial crisis in 2008.
But the Fed is ill equipped to limit the effect of a global pandemic alone. Lower interest rates may eventually soothe financial markets and help to hold down borrowing costs, but the Fed can’t speed the reopening of Chinese factories or reverse Facebook’s …continued .
[Source: New York Times]