Investors are expecting the U.S. Federal Reserve — and other central banks globally — to do more to rescue the global economy from a downturn caused by the ongoing coronavirus crisis.
The Fed lowered its benchmark rate by 50 basis points in an off-schedule meeting this week. But traders have priced in another cut at the next scheduled Fed meeting on Mar. 17-18. The CME FedWatch tool shows around 80% chance of another 50 basis points easing at the next meeting two weeks later.