US cuts rates in response to Coronavirus

The US central bank, the Federal Reserve, has cut interest rates in response to the threat posed by Coronavirus and the associated illness Covid-19. In a statement released 3 March by the Federal Open Market Committee (https://www.federalreserve.gov/newsevents/pressreleases/monetary20200303a.htm) the Fed stated: "The fundamentals of the US economy remain strong. However, the Coronavirus poses evolving risks to economic activity. In light of these risks and in support of achieving its maximum employment and price stability goals, the Federal Open Market Committee decided today to lower...