Fed Surprises With Emergency Rate Cut On Virus Concerns
TD Wealth
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Summary
- U.S. Fed cut rates in an attempt to buoy confidence within financial markets.
- Central banks expected to follow US Fed with further policy action.
- Rate of new infections in China are down significantly.
In an emergency move, the U.S. Federal Reserve surprised with a 50-basis point interest rate cut in response to the evolving economic risk posed by COVID-19. Michael Craig, Head of Asset Allocation, TD Asset Management weighs in on the implications for equity markets.
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