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 165,000 members. Like our Facebook page, and Follow us on Instagram and Twitter.
-
All News2 weeks ago
Fatal Tesla crash on Bear Valley Road was intentional, driver identified
-
15 freeway3 weeks ago
Driver killed on 15 Freeway Sunday ID’d
-
All News3 weeks ago
UPDATE: 14-year-old Teen Missing From Mall Has Been Located
-
All News3 weeks ago
Driver of Tesla killed after slamming into semi-truck in Victorville
-
All News3 weeks ago
Amazon driver falls into septic tank in Apple Valley
-
All News2 weeks ago
Missing Victorville man, Hugo Oliver Santamaria, found dead
-
All News2 weeks ago
Traffic on Highway 18 diverted after 2-vehicle crash; Apple Valley School Police Officer Injured
-
All News3 weeks ago
Sprouts grocery store to open in Victorville in Former Toy “R” Us Building