‘Fed is a Bystander’: COVID-19 Economic Woes Bigger Than Central Banks Can Handle | WHAT REALLY HAPPENED

‘Fed is a Bystander’: COVID-19 Economic Woes Bigger Than Central Banks Can Handle

As one country after another shuts down public events and urges citizens to stay home amid the pandemic spread of the COVID-19 novel coronavirus, federal banks have struggled to prop up the buckling world economy. However, one analyst says the central banks aren’t being successful because their available tools won’t address the core of the problem.

On Sunday, the US Federal Reserve, which functions as the country’s central bank, lowered its benchmark interest rate to an effective 0% after Washington declared the COVID-19 pandemic a national emergency and states and cities across the country began shuttering shops, transportation and public arenas.

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