Wall Street Reacts to Fed Cut With Calls for More Stimulus [Yahoo! Finance News]
Bryn Mawr Bank Corporation (BMTC)
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Source: Yahoo! Finance News
) -- The Federal Reserve’s shock interest-rate cut and bond-buying program rippled through global markets on Monday, with Index futures falling by the limit and Treasury yields moving sharply lower at the start of what promises to be another volatile week. Early reactions on Wall Street to the Fed’s moves were mixed. Some said the measures will help stabilize jittery financial markets, while others warned that the central bank’s emergency actions risked adding to investor panic. One refrain from across the spectrum: global policy makers will have to roll out more monetary and fiscal stimulus to counter the economic fallout of the worsening coronavirus pandemic. Lack of Calm Max Gokhman, the head of asset allocation for Pacific Life Fund visors: “This is the sort of opening of the floodgates we expected and we will and will need) to have even more but I’m not sure if not waiting a few days for the official meeting was the right call. It’s important to appear prompt but also orderly. “
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