Fed cuts rates by half a percentage point to combat coronavirus slowdown

The Federal Reserve announced an emergency rate cut Tuesday of half a percentage point in response to the growing economic threat from the novel coronavirus.

The move was the first such cut since December 2008, during the financial crisis. It comes amid a volatile patch on Wall Street and amid a steady stream of hectoring from President Donald Trump, who has called for lower rates to stay competitive with policy at other global central banks.

Full article at: CNBC

About CrazyEyes 115 Articles
Friends with Ancalagon the black.