Fed Slashes Rate Over Coronavirus ‘Risks’: What It Means for You
In an unscheduled move attributed to the economic impacts of the coronavirus COVID-19, the Federal Reserve slashed its benchmark federal funds rate by 50 basis points today, putting it in a range of 1% to 1.25%. In its statement, the Fed said: “The fundamentals of the U.S. economy remain strong. However, the coronavirus poses evolving risks to economic activity.” Today’.
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