After watching stocks tank around the world yesterday, while the markets took a day off due to MLK Day, the Federal Reserve attempted to to avert a similar downturn by drastically cutting interest rates 3/4 of a point.
This is what a singular exectuive is designed to do, respond quickly to crises. Recall that the president has also stated that he wants to create tax incentives, but this requires congressional approval which takes time. The question now is whether the rate cut will make a difference.
