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Fed Slashes Interest Rates in Emergency Move as Coronavirus Fears Mount

Editor New York Times March 4, 2020

The Federal Reserve slashed interest rates on Tuesday in an extraordinary attempt to pre-empt economic fallout as fears about coronavirus mounted, with policymakers voting unanimously for their biggest single cut — and first emergency rate move — since the depths of the 2008 financial crisis.

“The virus and the measures that are being taken to contain it will surely weigh on economic activity” for “some time,” Jerome H. Powell, the Fed chairman, said at a news conference in Washington following the announcement. “The magnitude and persistence” remain “highly uncertain” …continued .
[Source: New York Times]

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  • Answers to 9 crucial questions about the coronavirus variants spreading around the worldAnswers to 9 crucial questions about the coronavirus variants spreading around the world
  • Prisons are covid hot spots. But few countries are prioritizing vaccines for inmates.Prisons are covid hot spots. But few countries are prioritizing vaccines for inmates.
  • Biden Outlines $1Biden Outlines $1.9 Trillion Spending Package to Combat Virus and Downturn
  • What’s in Biden’s $1What’s in Biden’s $1.9 Trillion Stimulus Plan
  • Biden's $1Biden’s $1.9 trillion Covid relief plan calls for stimulus checks, unemployment support and more

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