The coronavirus is putting the financial system that emerged from last decade’s banking crisis to the test. Initially, markets appeared to pass. Over the past few days, they have started to buckle. The good news is that the Federal Reserve learned a lot during the 2008 crash. If it doesn’t renege on its unofficial role as the world’s market maker, it should be in a position to fix most problems.

Source: Wall Street Journal March 13, 2020 12:04 UTC