Fed Rate Cut: Chairman Powell Just Showed President Trump Why You Should Be Careful What You Wish For

This isn't a problem that will respond to rate cuts.
Look at the velocity of money from FRED at the St. Louis Fed:


The money released by Fed machinations isn't turning over. It is getting stuck in the financial system.
Helicopter money for financiers is all well and good but it doesn't address the problem.
(it's the same picture for MZM and M2)

From FT Alphaville:

Fed cuts rates and stocks....don’t care

News from Grandmaster Jay just hit the wires:

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 Committee is closely monitoring developments and their implications for the economic outlook and will use its tools and act as appropriate to support the economy.

A 50bps rate cut. We’re all cured!
Stocks are relatively happy about the news. The S&P 500 is up 0.41 per cent, the Dow 0.13 per cent and the Nasdaq 0.46 per cent. A reaction, but perhaps not the one that many expected....MORE

Do check out the comments as well, some are pretty astute.