Fed vs coronavirus: What can the US central bank do?

Washington (AFP) – Wall Street has tanked, some factories in China have shuttered and businesses and investors fear the new coronavirus could damage the global economy and maybe even cause a recession.The US Federal Reserve says it’s ready to take action. What can it do, and will it actually benefit the economy?Statement to reassure marketsIn its worst week since the 2008 global financial crisis, Wall Street lost about 12 percent last week, and $3.5 trillion in equity value evaporated into the virus-infected air. As the death toll climbs, investors seem particularly worried about the spread of…

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