Commentary: The Fed can't cure coronavirus with a rate cut. But it can spread panic
Nothing says "Don't panic" quite like an emergency interest rate cut by the Federal Reserve.
Oh, wait ... .
By cutting its target short-term interest rate by half a percentage point Tuesday morning, the Fed's Federal Open Market Committee told the country that the coronavirus outbreak is such a threat to the U.S. economy, the committee couldn't hold off acting until its regularly scheduled meeting two weeks from now. That's an alarming signal, and it's similar to the one being sent by other central banks around
