US Fed in emergency rate cut to mitigate coronavirus risk
Central bank closely monitoring developments and their implications for the economic outlook
03 March 2020 - 19:40
Washington — The US Federal Reserve delivered an emergency half-percentage point interest rate cut on Tuesday in a bid to protect the longest economic expansion on record from the spreading coronavirus.
“The coronavirus poses evolving risks to economic activity,” the Fed said in announcing the move, its first such intermeeting cut since October 2008 during the financial crisis...
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