Fox Business host Charles Payne says Washington lawmakers and the U.S. Central Bank are not doing enough to stem the economic fallout caused by the Coronavirus pandemic.
“The problem with the Fed, which is doing different things almost every other day, is that they’re not coming big enough,” Payne told WIBC host Tony Katz. “And this is what [Treasury Secretary Steve] Mnnuchin is saying as well, is that they’re trailing the problem instead of getting in front of the problem.”
Payne continued: “So [the Fed] is going to have to come big; the market is telling them they have to come big. A trillion-dollar [bailout] – considering the economic damage [that’s already occured] – is not enough.
“The Fed has the ability to do two, three [bailouts]. Do whatever you must do. Do a gargantuan [bailout]. Do whatever you must do. Get in front of this [and] mitigate the damage because this is a dramatic but short-lived event that does not have to be as painful as it looks right now.
“But [again], a lot of this depends upon how well [the Fed] mitigates the damage on Main Street. I don’t want to hear about Boeing’s bailout; I want to hear about Main Street’s bailout.”
Click the link below to hear Tony’s full interview with Fox Business host Charles Payne.
https://omny.fm/shows/tony-katz-and-the-morning-news/should-the-markets-be-making-you-panic
