The Federal Reserve took emergency action Sunday and slashed its benchmark interest rate by a full percentage point to nearly zero to try to offset the economic impact of the coronavirus outbreak. In another move to boost growth, the central bank also said it would purchase $700 billion in Treasury and mortgage-backed securities to encourage lending.
The Fed said in a statement that the effects of the outbreak will weigh on economic activity in the near term and pose risks to the outlook. Policy makers said they will keep rates at nearly zero until they are confident the economy has weathered the storm, which a number of economists say could push the U.S. into recession.
http://www.cbsnews.com/news/fed-slashes-interest-rates-to-near-zero-to-prop-up-economy-during-coronavirus-pandemic/
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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