Coronavirus emergency move! US Federal Reserve cuts interest rates; experts surprised
The U.S. Federal Reserve cut interest rates on Tuesday in an emergency move designed to shield the world's largest economy from the impact of the coronavirus. In a statement, the central bank said it was cutting rates by a half percentage point to a target range of 1.00 pct to 1.25 pct
The decision was unanimous among policymakers. The Fed`s decision to cut interest rates before its next scheduled policy meeting on March 17-18 reflects the urgency with which the Fed feels it needs to act. Source: Reuters