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
“Governments across the world are galvanizing every surveillance tool at their disposal to help stem the spread of the novel coronavirus. Countries have been quick to use the one tool almost all of us carry MORE
The number of Americans seeking unemployment benefits fell slightly last week to 793,000, evidence that job cuts remain high despite a substantial decline in new viral infections. Last week’s total declined from 812,000 the previous MORE
The US has been appealing to its allies for help in obtaining medical supplies to overcome critical shortages in its fight against coronavirus. In his public rhetoric Donald Trump has been talking up the domestic private sector response to the crisis. MORE