The Stimulus Toolbox to Help Virus-Stricken Economies

As the spread of the novel coronavirus raises the specter of a sudden downturn in the global economy, policy makers are turning to a menu of measures to soften the blow. They’re likely to trigger more emergency moves — such as the U.S. Federal Reserve’s surprise cut to interest rates on March 3 — or try some new ones. While rate cuts make borrowing cheaper, they have little immediate effect on factories starved of materials or worried consumers spending less on shopping, travel or eating out.