The Federal Reserve said Wednesday the coronavirus pandemic already has caused “tremendous” health and economic hardship, and warned the damage to the US economy will continue along with high unemployment.
federal funds rate
Fed Again Cuts Interest Rates as Economic Growth Slows, Powell Says Policy in Good Place
Fed Again Cuts Interest Rates 0.25 percentage points, which was widely expected, brings the Fed’s target rate to a range of 1.5% to 1.75%. Less clear is where central bankers go from here amid signs the economy is slowing down.