Federal Reserve Slashes Rates to Zero in Emergency Act
In an emergency move, the Federal Reserve announced it would cut interest rates to zero and launch quantitative easing, stating, “The coronavirus outbreak has harmed communities and disrupted economic activity in many countries, including the United States.” Fed Chairman Jerome Powell is set to speak on the matter in a press briefing at 6:30 pm […]
Federal Reserve Chair Signals Fed May Cut Interest Rates As Coronavirus Pandemic Spreads
Dow Jones (via Morningstar) reports that Federal Reserve Chairman Jerome Powell is reassuring markets that the Federal Reserve will do whatever is appropriate in the face of the unfolding novel coronavirus (COVID-19) pandemic and resulting economic contagion: Federal Reserve Chairman Jerome Powell signaled Friday the central bank was prepared to cut interest rates to cushion […]