The spreading coronavirus that has roiled stock markets globally on Monday could lead the Federal Reserve to cut interest rates as early as March, according to a research note. "We would rather have a vaccine than a rate cut and fully recognize that monetary policy is not optimized for addressing this type of shock. But it does not follow from this that the appropriate path of policy under the shock is unchanged," said Krishna Guha and Ernie Tedeschi of Evercore ISI in a note to clients. If new information is "deeply concerning," the Fed could act as early as March, and if it does cut, "it is likely not just cutting 25 basis points." According to the CME Group FedWatch tool that calculates rate probabilities by looking at Fed fund futures, traders assess a 23% chance of a rate cut in March.
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February 24, 2020 at 06:50PM
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Economists: Fed rate cut could come as early as March - MarketWatch
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