Mnuchin hails Fed decision to cut rates amid coronavirus outbreak
. The Fed "must further ease and, most importantly, come into line with other countries/competitors," Trump tweeted.
The Fed decision didn't mollify markets, either. The Dow Jones industrial average fell more than 800 points in late afternoon trading. "Anyone as an investor will look at it as welcome news," Boyle said. "While that might be the reaction at first blush, I have to say I find it concerning because this does have echoes of the 2008 Fed recession.""I would say this is no different than any other severe situation," Mnuchin said. "This is going to have an impact on the short term of the economy."
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