In an emergency move, US Fed cuts rates by 50 bps to battle Coronavirus

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 as Group of Seven finance officials pledged all appropriate policy moves. In a statement, the Fed said it was cutting rates by a half percentage point to a target range of 1.00% to 1.

25%. "The fundamentals of the U.S. economy remain strong. However, the coronavirus poses evolving risks to economic activity," it said in a statement. The coronavirus, which.....

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