“Fed takes emergency steps to slash rates and ease bank rules”
March 16, 2020
“The Federal Reserve took massive emergency action Sunday to try to help the economy… slashing its benchmark interest rate to near zero and saying it would buy $700 billion in Treasury and mortgage bonds.
The Fed’s surprise announcement signaled its rising concern… [about]… a recession, and that it’s poised to do whatever it can to counter the risks. It cut its key rate by a full percentage point to a range between zero and 0.25%.”