Rate Cut Anyone?
As the Dow Jones Industrial Average falls another 900 points today as of writing this article, the Federal Reserve is signaling an interest rate cut may be in the offing.
The fundamentals of the U.S. economy remain strong. However, the coronavirus poses evolving risks to economic activity. The Federal Reserve is closely monitoring developments and their implications for the economic outlook. We will use our tools and act as appropriate to support the economy, declared the Fed in a statement.
Rumors on The Street are the Fed will fire its guns Sunday evening, possibly in a coordinated action by global central banks.
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