“[The Fed’s measures are] not a panacea, more like an aspirin for the dollar. There is a reasonable risk that this Fed move reflects the depth of their concern with U.S. asset markets, not a Fed formula to resolve U.S. asset- market difficulties.”
—Daniel Tenengauzer, New York-based head of global currency strategy at Merrill Lynch & Co

“We are not convinced that yesterday’s move will solve all the multiple challenges facing credit markets and the financial system.”
—Goldman Sachs analysts

“Credit concerns are likely to persist and averting a drawn out recession is becoming increasingly challenging.”
—Citigroup

Does the Fed Package Succeed?