Fed delivers emergency rate cut as risks from coronavirus mount [Toronto Globe and Mail (Ontario, Canada)]
Fortis Inc. Common Shares (FTS)
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Source: Toronto Globe and Mail
Fed delivers emergency rate cut as risks from coronavirus mount Federal Reserve Chair Jerome Powell speaks during a news conference on Mar. 3, 2020, to discuss an announcement from the Federal Open Market Committee, in Washington. Jacquelyn Martin/The Associated Press Federal Reserve Chair Jerome Powell speaks during a news conference on Mar. 3, 2020, to discuss an announcement from the Federal Open Market Committee, in Washington. The U.S. Federal Reserve cut its key interest rate on Tuesday to help the world’s largest economy cope with mounting risks posed by the coronavirus. The central bank cut the target range for the federal funds rate by 50 basis points to a range of 1 per cent to 1.25 per cent. It was a unanimous decision by the Fed’s rate-setting committee. “The fundamentals of the U.S. economy remain strong,” the Federal Open Market Committee said in a statement. “However, the coronavirus poses evolving risks to economic activity. … The Committee is closely monitoring dev
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