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"There is not anything fundamentally wrong with our economy," Powell said. "Quite the contrary. We are starting from a very strong position."
Dow dives 600 points even after new Fed stimulus, traders await Senate resolution on coronavirus bill
US stock traders are still anxiously awaiting an economic-relief plan that was held up in the Senate on Sunday evening.
The Fed announces unlimited bond-buying, sets up program to stimulate companies and local governments, in order to combat coronavirus fallout
"While great uncertainty remains, it has become clear that our economy will face severe disruptions. Aggressive efforts must be taken," the Fed said.
Fed slashes main interest rate to near zero in historic move designed to cushion economic blow of coronavirus pandemic
"The coronavirus outbreak has harmed communities and disrupted economic activity in many countries," the central bank said in a statement Sunday.
The Fed announced an unexpected interest rate cut on Tuesday. Here’s a timeline of the last 7 emergency rate cuts
"The fundamentals of the US economy remain strong. However, the coronavirus poses evolving risks to economic activity," the FOMC said in a statement.
The Fed just issued an emergency rate cut for the first time since the financial crisis — and it’s a signal of just how desperate the US economi...
The Fed is "reacting to the upcoming threat to economic activity in the only way they know how – by targeting monetary policy,"said Chris Zaccarelli.
"The coronavirus poses evolving risks to economic activity," the Federal Open Market Committee said in a statement.
Stocks soar on hopes that stimulus will counter coronavirus, but analysts warn the worst may be yet to come
"What level of interest rates is required to incentivize you to risk the death of yourself and your family?" one strategist asked.
The president called on Fed Chair Jerome Powell to take action after Australia's central bank cut its rates to a record low of 0.5% on Tuesday.
Goldman Sachs sees the Fed aggressively cutting interest rates to boost the economy — and says it could even happen before the bank’s next...
Chairman Powell's statement Friday suggests global central banks are "intensely focused on the downside risks from the virus," Goldman wrote.