The US central bank has cut interest rates in an emergency move to help shield its economy from the impact of the"evolving" coronavirus crisis.
The Federal Reserve, which had hinted that support was imminent following steep stock market falls last week, said it was taking half a percentage point off its federal funds rate to a new target range of 1% to 1.25%. Sky's economics editor Ed Conway suggested that the measure could prompt other central banks to follow suit as worries grow that efforts to contain the outbreak will cripple global growth this year.
Lower income class V.S Wall Street banker.
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