BREAKING NEWS |
The Federal Reserve will slash interest rates by half a percentage point, a large cut as coronavirus fears continue to mount. |
Tuesday, March 3, 2020 10:02 AM EST |
“The coronavirus poses evolving risks to economic activity,” the Fed said in a statement. “In light of these risks and in support of achieving its maximum employment and price stability goals, the Federal Open Market Committee decided today to lower the target range for the federal funds rate.” Rates are now set in a range of 1 percent to 1.5 percent, as of the decision. |
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