The Fed cut U.S. interest rates on Sunday and said it would expand its balance sheet by at least $700 billion in the coming weeks.
The move is expected to help resolve some market dislocations including illiquidity in the U.S. Treasury market, but it may not benefit companies that are struggling as people avoid going out because of the virus, and as businesses face mandatory shutdowns.
"What's needed is more direct support to industries that are hit directly by the virus. That can only be provided by fiscal policy, and governments have not shown the same swift reaction that central banks have," said Marshall Gittler, head of investment research at BDSwiss Group.
