(Bloomberg) — The Federal Reserve is now prepared to reduce interest rates this month even though it recognizes monetary policy cannot completely shelter a U.S. economy increasingly threatened by the coronavirus.Fed Chairman Jerome Powell opened the door to a rate-cut at the Fed’s March 17-18 meeting by issuing a rare statement Friday pledging to “act as appropriate” to support the economy.He was pushed into making that assurance by spectacular losses in U.S. stocks as investors turned fearful that the spreading virus would significantly damage the American and global economies. Traders and a string of Wall Street banks now expect the …read more
Source:: Yahoo Finance
