Monday was the worst day for the Dow Jones Industrial Average since Black Monday in 1987. While the Federal Reserve cut rates to zero over the weekend, investors know that the financial market impact caused by COVID-19 can’t be solved by monetary policy alone. The Fed is trying its best to support market liquidity and make sure financial markets and businesses can operate smoothly and access cash when they need it. The Fed acted again today to provide even more support for corporations and at President Trump’s news conference, Treasury Secretary Steven Mnuchin briefed the press that he is working with Congress on a fiscal stimulus package.
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Commentaries are published by Cetera Investment Management LLC, an SEC registered adviser owned by Cetera Financial Group. Cetera Investment Management provides market perspectives, portfolio guidance, model management, and other investment advice to its affiliated broker-dealers, dually registered broker-dealers and registered investment advisers.
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