U.S. Federal Reserve Chair Jerome Powell said the coronavirus outbreak ‘will surely weigh on economic activity both here and abroad for some time’
WASHINGTON - The U.S. Federal Reserve cut interest rates on Tuesday in a bid to shield the world’s largest economy from the impact of the coronavirus, though Fed Chair Jerome Powell suggested the threat to the economy would not soon abate.
The move did little to deliver immediate comfort to financial markets roiled by fears of the virus’ impact on economic growth. Losses on Wall Street deepened. Yields on U.S. Treasuries initially fell, though later perked up slightly. U.S. Federal Reserve Chairman Jerome Powell speaks to reporters after the Federal Reserve cut interest rates in an emergency move designed to shield the world's largest economy from the impact of the coronavirus, during a news conference in Washington, U.S., March 3, 2020.
“We do recognize that a rate cut will not reduce the rate of infection, it won’t fix a broken supply chain; we get that, we don’t think we have all the answers,” Powell said. Still, he said, it will help support “overall economic activity.”
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Fed slashes rates by half a percentage pointBREAKING: The Federal Reserve announced today that it is cutting interest rates by half a percentage point, an emergency move designed to bolster the U.S. economy amid risks posed by the coronavirus outbreak
Consulte Mais informação »
Stocks Snap Back After Fed MoveThe Dow Jones Industrial Average fell or 0.2% after staging its biggest one-day rally in nearly a decade Monday. The S&P 500 lost 0.4% and the Nasdaq Composite fell 0.2%
Consulte Mais informação »
Homebuilder stocks jump on Fed rate cut amid coronavirus outbreakThe homebuilders' ETF (ITB) is near the high of the session, up almost 2.3% and up 6.2% week-to-date.
Consulte Mais informação »
Fed Cuts Interest Rates In Emergency Response To CoronavirusThe Federal Reserve's move was unusual, coming between regularly scheduled policy meetings. Officials also left open the possibility of further cuts if the economic damage gets worse.
Consulte Mais informação »
Fed Cuts Rates To Combat Coronavirus Impact On Markets, Trump Calls For 'More Easing And Cutting'The Fed announced that it will cut interest rates by 50 basis points in an effort to mitigate the economic damage caused by the global coronavirus outbreak by theothersarahh
Consulte Mais informação »