Jim Cramer weighs in on the Federal Reserve.
Stocks declined sharply Thursday, putting Wall Street on pace for its worst week since the global financial crisis in 2008, as coronavirus infections accelerated and health officials confirmed that a California man contracted the disease despite having no travel links or contacts with those afflicted by the virus.
President Donald Trump said Wednesday that the risk to Americans was "very, very low," and he placed Vice President Mike Pence in charge of his administration's response to the growing global health crisis. Investors, however, weren't convinced and continue to seek out safe-haven assets such as gold and U.S. Treasury bonds. The yield on the benchmark 10-year Treasury note declined Thursday to 1.254%, an all-time low.
So, how should the Federal Reserve respond? Well, watch to see what Cramer has to say.
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