Stocks closed deep in the red for a second consecutive day on Monday amid concerns about the state of the US economy following an unexpectedly weak jobs report released on Friday. Investors are now looking to the Federal Reserve for potential intervention in the form of an emergency rate cut.
However, it is unlikely that the Federal Reserve will take immediate action to address the stock market's volatility. Chicago Fed President emphasized that the Fed's primary mandate does not include ensuring the comfort of the stock market.
