Years from now, mainstream historians and economists will blame the Greater Global Depression of 2020 on the Coronavirus. It wasn't the fault of the Fed or the international bankers, they will say. They did all they could, and were just overwhelmed by external forces that they couldn't control.

Charts: https://www.ino.com/

Tell me, how does reducing interest rates by a half percentage point eliminate the public's fear of this virus and motivate them to travel by air?

Fearing COVID Collapse, Fed Cuts Rates
George Ure's Urban Survival
Mar 3, 2020

[snip]

Just announced by the Federal Reserve:

"The fundamentals of the U.S. economy remain strong. However, the coronavirus poses evolving risks to economic activity. In light of these risks and in support of achieving its maximum employment and price stability goals, the Federal Open Market Committee decided today to lower the target range for the federal funds rate by 1/2 percentage point, to 1 to 1 1/4 percent."

The Fed's comment about a 'strong US economy' reminds me of the infamous statement that economist Irving Fisher made just before Oct 1929 stock market crash that initiated the beginning of the Great Depression.
-NW

Irving Fisher Quotes (from 1929)
https://www.azquotes.com/author/26785-Irving_Fisher

Stock prices have reached what looks like a permanently high plateau. I do not feel there will be soon if ever a 50 or 60 point break from present levels, such as (bears) have predicted. I expect to see the stock market a good deal higher within a few months.
-Irving Fisher