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http://marketwatch.com/story/what-the-fed-could-do-as-stock-market-rout-spreads…

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Federal Reserve Chairman Jerome Powell and colleagues may have to step in as financial market gyrations continue.

The Federal Reserve wanted to sit back and monitor how an economy where inflation already was elevated would respond to sweeping tariffs implemented by the Trump administration.

But financial-market gyrations may not give it the time to wait. The yield on the 10-year Treasury BX:TMUBMUSD10Y spiked as high as 4.52% as midnight struck, with Wednesday bringing the highest tariffs in a century into effect.