Analysts say Fed measures go overboard

The market rout on Wall Street following the US Federal Reserve’s aggressive rate cut indicated that the pressing task for central banks is not to intensify stimulus but stabilize expectations by taking calm actions, experts said on Tuesday.They expected China’s central bank to remain prudent and focus on the domestic situation in repairing the economic damage from COVID-19, helping to anchor investor confidence.China’s key Shanghai Composite Index wobbled on Tuesday and edged down by 0.34 percent to close at 2,779.64 points, while the ChiNext Index, which tracks Shenzhen’s innovative startup-…

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