The decrease in firepower affects the counterattack capabilities of the US Fed. USA

America's central bankers thought they had plenty of time to prepare for another zero-rate world, from which they escaped with such difficulty after 2008. But growing contagion forced the United States to cut rates by 1.50 percentage points through 2 decisions only in March. This leaves the Fed without interest rate ammo. A look at US Fed's interest rate cuts in previous downturns.

Source: Bloomberg