Urgent Fed meeting at 11:30am ET, April 7

The day after tariffs were announced, the Fed announced a meeting under “expedited procedures” (that’s Fed speak for emergency).

The official topic is “discount rates” which is the rate the Fed charges banks for emergency borrowing (a method to inject liquidity).

The unofficial topic will, of course, be tariffs

These types of “expedited procedure” meetings are common after market turmoil, as in the 1987 “Black Monday”, 2008 Financial Crisis, 2020 COVID Crisis.

While this new crisis is entirely self-inflicted by the goons in the White House, Jerome Powell has stated recently that he believes the Fed’s job is adapt to the policies of the elected government, whatever that may be – even if it’s a dumb as this tariff plan.