Tag: Fed interest rates

• Wednesday, March 4th 2020 - 07:18 UTC

  US Treasury Secretary Mnuchin strongly supported Fed's decision to cut rates

  

  United States Treasury Secretary Steven Mnuchin told lawmakers on Tuesday that he supported the Federal Reserve’s decision to cut rates in a bid to support the economy amid the coronavirus outbreak.

• 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.