What this surprise Fed rate cut means for you
In a rare move, the Federal Reserve announced an emergency rate cut of 50 basis points in response to the growing threat from the coronavirus outbreak.
It’s the first time the Fed has cut rates by half a percentage point since late 2008.
“The fundamentals of the U.S. economy remain strong,” Fed Chairman Jerome Powell said in a meeting with reporters. However, “the spread of the coronavirus…
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