[shanty]

The fed provides a boost when demand-side goes down; that's one of its roles in emergencies. Their move here didn't make sense since the initial impact was largely supply-side (demand-side drop is coming...). These adjustments were somewhat knee-jerk and somewhat pressure from the public/Whitehouse.

Their moves so far might float us though a short recession, but it's not clear at this point if it will be enough.