'We did in two weeks what it took the Fed eight months to do in 2009,' Hedge fund manager Paul Tudor Jones told CNBC.
said Thursday investors should commend Washington's policy response to the economic shock from the coronavirus pandemic.
"Investors can take heart that we've counteracted this existential shock with the greatest fiscal, monetary bazooka. It's not even a bazooka. It's more like a nuclear bomb," Jones said on CNBC's "Jones said the Fed's measures have brought "safety" to the economic system, even as COVID-19 continues to spread across the U.S. and disrupt daily life.
"We did in two weeks what it took the Fed eight months to do in 2009," Jones said. "Remember, we didn't even quantitative easing until well after the great financial crisis had started, well into the recession." Jones' comments Thursday came shortly after Fed Chairman Jerome Powell told NBC's "Today" show that the central bank is"When it comes to this lending, we're not going to run out of ammunition, that doesn't happen," Powell told NBC's Savannah Guthrie. "We still have policy room in other dimensions to support the economy."
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