What does anyone expect a Fed interest rate cut to do to spur people to go back to business as usual? The city of Austin is about to cancel SXSW. Do people thin

What does anyone expect a Fed interest rate cut to do to spur people to go back to business as usual? The city of Austin is about to cancel SXSW. Do people think they might change their mind now that the Fed has cut borrowing rates? No. People are reacting to this virus by actively choosing to avoid conferences, travel, restaurants, movies, shops, and sporting events. They aren’t doing it because they’ve run out of money or are trying to save. They’re doing it because they don’t want to get sick. The Fed can’t will people back out into normal life by cutting interest rates. And that’s why the market is basically flat today after this announcement. The market has nearly universally reacted to this rate cut with ambivalence.