All News
Interest rates cut to near zero to combat coronavirus

WASHINGTON (VVNG.com) — On Sunday, the Federal Reserve cut its benchmark rate by a full percentage point to a near-zero, and will purchase $500 billion in Treasurys and $200 billion in mortgage-backed securities.
The Central Bank issued the following statement regarding the $700 billion quantitative easing program:
“The effects of the coronavirus will weigh on economic activity in the near term and pose risks to the economic outlook. In light of these developments, the Committee decided to lower the target range. The Committee expects to maintain this target range until it is confident that the economy has weathered recent events and is on track to achieve its maximum employment and price stability goals.”
The Federal Reserve cut interest rates for the first time approximately 2 weeks ago in an emergency move to help the U.S. economy amid the worldwide coronavirus pandemic.
To follow updates to this article and more, join our newsgroup on Facebook with over 140,000 members. Like our Facebook page, and Follow us on Instagram and Twitter.
-
All News6 days ago
Attempted murder suspect shoots at deputies and helicopter in Apple Valley
-
All News5 days ago
Woman killed in crash on Highway 18 and Central Road in Apple Valley
-
All News4 days ago
2 people airlifted after rollover crash on NB I-15 freeway in Hesperia
-
All News6 days ago
Big Bear man arrested for Possession and Distribution of Child Pornography, additional victims sought
-
All News3 days ago
Shooting near Victorville Walmart leaves two injured
-
All News5 days ago
Danbury Avenue in Hesperia closed after pickup truck slams into utility pole
-
All News5 days ago
Man airlifted after stabbing at Sherwood Villa Apartments in Victorville
-
All News2 days ago
450 cited, 16 arrested, and 4 firearms recovered during a traffic and crime operation in Victorville