Senate, Fed coronavirus support is biggest fiscal-monetary bazooka ever
Paul Tudor Jones
Kevin Mazur | Getty Photographs
Hedge fund supervisor Paul Tudor Jones mentioned Thursday traders ought to commend Washington’s coverage response to the financial shock from the coronavirus pandemic.
“Buyers can take coronary heart that we have counteracted this existential shock with the best fiscal, financial bazooka. It is not even a bazooka. It is extra like a nuclear bomb,” Jones mentioned on CNBC’s “Squawk Box.”
Jones mentioned the actions from the Federal Reserve and Congress have introduced “security” to the financial system, whilst COVID-19 spreads throughout the U.S. and disrupts day by day life.
“We did in two weeks what it took the Fed eight months to do in 2009,” the billionaire investor mentioned. “Bear in mind, we did not even get quantitative easing till effectively after the nice monetary disaster had began, effectively into the recession.”
And on the fiscal aspect, the $2 trillion financial aid bundle approved Wednesday night by the Senate is round 10% of U.S. GDP, Jones famous. That makes it “double what we…