U.S. Federal Reserve cut interest rates on Tuesday in an emergency move designed to shield the world's largest economy from the impact of the coronavirus, which Fed Chair Jerome Powell said "will surely weigh on economic activity both here and abroad for some time."
It was the Fed's first emergency rate cut since 2008 at the height of the financial crisis, underscoring how grave the central bank views the fast-evolving situation.
In a statement, the central bank said it was cutting rates by a half percentage point to a target range of 1.00% to 1.25%.
The Democratic Speaker of the U.S. House of Representatives on Thursday said she expects "a strong bipartisan vote" on a $2..
With panic buying on Main Street and fear-driven sell-offs on Wall Street, the U.S. Federal Reserve cut interest rates to near zero..
