How The Coronavirus Could Force The Fed Back To Zero (A Nuanced Take)

How The Coronavirus Could Force The Fed Back To Zero (A Nuanced Take)

Clearly, developed market central banks could have done without the outbreak of a deadly respiratory virus just as the global economy looked set to regain its footing after being waylaid by a bruising trade war and the Fed's ill-fated effort to normalize policy in 2018. Policymakers did their best with the dwindling ammunition at their disposal last year, deploying precious rate cuts (think of them as scarce bullets or, if you like, the last couple of Xanax at the bottom of an almost empty bott
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