Fed slashes interest rates to zero, boosts assets by $700B to fight coronavirus pandemic

Article Link: https://www.foxbusiness.com/markets/fed-coronavirus-interest-rates-emergency-action

Discussion posted by: IRWeasel

The Federal Reserve on Sunday slashed its benchmark federal fund rate by a full percentage point to near zero and said it would buy $700 billion in Treasury securities, an aggressive step to insulate the U.S. economy from the coronavirus pandemic. “The coronavirus outbreak has harmed communities and disrupted economic activity in many countries, including the United States,” the Federal Open Market Committee said in a statement. “The Federal Reserve is prepared to use its full range of tools to support the flow of credit to households and businesses.”