The Fed Out of Bullets

Each time in the last 13 years when the S&P is greater 50%, usually when the market is cratered, the interest rates have been relatively high. My question I have for you is what happens if we get another 50% crater when interest rates are zero? Do we go to negative rates? Yes, that's the thing. There's no more wiggle room for the Fed and they can increase their quantitative easing. They can try to stimulate the economy with more massive money printing and more massive and just to keep interest rates at negative levels basically. But will it work? We've seen the economy respond in a tepid fashion over the last five years.

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