Fed Cuts Interest Rates by Half Point in Emergency Move

Fed Cuts Interest Rates by Half Point in Emergency Move

(Bloomberg) -- The U.S. Federal Reserve delivered an emergency half-percentage point interest rate cut Tuesday in a bid to protect the longest-ever economic expansion from the spreading coronavirus. The vote for the emergency cut to a range of 1% to 1.25% was unanimous. The Fed also said in the statement that the “fundamentals of the U.S. economy remain strong.”

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