Federal Reserve statement - lowering federal funds rate to 0 to .25%
The Federal Reserve issued coordinated actions to combat the economic impacts of the coronavirus Sunday night, including cutting its key lending rate to zero.
The Federal Reserve issued coordinated actions to combat the economic impacts of the coronavirus Sunday night, including cutting its key lending rate to zero.
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In a surprise move, the Fed cut interest rates to essentially zero. That will have far-reaching consequences for everyday Americans.
Goldman Sachs sees no economic growth for the U.S. as the coronavirus outbreak roils markets and business activity.
Stock markets and the dollar fell heavily on Monday, after emergency rate cuts in the United States and New Zealand failed to allay fears about the coronavirus' economic shock.
The group — which includes JPMorgan, Bank of America and others — said in a statement that the pandemic was an "unprecedented challenge."
The U.S. Federal Reserve slashed rates back to near zero, restarted bond buying and joined with other central banks to ensure liquidity in dollar lending to help put a floor under a rapidly disintegrating global economy during the coronavirus pandemic.
The Federal Reserve cut interest rates for the second time in less than two weeks on Sunday in an emergency move to help shore up the U.S. economy amid the rapidly accelerating global coronavirus pandemic.
Contracts on the S&P 500 dropped 5%, reaching a "limit down" band that made by the CME futures exchange to prevent further losses.
The biggest U.S. banks will stop buying back their own shares, and will instead use that capital to lend to individuals and businesses affected by the coronavirus, an industry trade group said on Sunday.
Goldman Sachs Group Inc has downgraded its U.S. growth forecast for the first and second quarters in the wake of the economic fallout from the coronavirus outbreak.
Automakers General Motors , Ford Motor Co and Fiat Chrysler Automobiles (FCA) are forming a coronavirus task force along with the United Auto Workers (UAW) union to improve protections for their employees and limit the spread of the highly contagious virus.
U.S. stock index futures tumbled after resuming trading on Sunday after the U.S. Federal Reserve slashed rates back to near zero to help the global economy and investors digested the latest fallout from the escalating coronavirus pandemic.
U.S. President Donald Trump said the Federal Reserve's decision on Sunday to cut interest rates was "good news" and "makes me very happy" as he congratulated the central bank for taking further action aimed at helping shore up the U.S. economy amid the global coronavirus pandemic.
The U.S. Federal Reserve and global central banks moved aggressively on Sunday to buttress a world economy unraveling rapidly amid the coronavirus pandemic, with the Fed slashing interest rates to near zero, pledging hundreds of billions of dollars in asset purchases and backstopping foreign authorities with the offer of cheap dollar financing.