Tag: economic toll

• Wednesday, March 4th 2020 - 06:58 UTC

  Fed emergency intervention to address potential economic toll of the coronavirus outbreak

  

  The Federal Reserve on Tuesday cut interest rates amid concern about the potential economic toll of the coronavirus outbreak. The Federal Open Market Committee (FOMC), which sets Fed interest rates, announced it would cut its baseline rate range by 0.5 percentage points to a 1 to 1.25 percent spread.