Diane Swonk, chief economist at Grant Thornton, a major accounting firm, said the Fed's latest action is "so important" and will help ease credit market conditions.

"The key is to keep companies and consumer sideswiped by a health crisis afloat and solvent in #COVID19-tainted waters," Swonk tweeted Sunday. "This isn't a banking crisis -- it is a health crisis that we can prevent from militating into a financial crisis."