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Federal Reserve's Latest Action Seeks to Support Markets Spooked by Coronavirus Fears

CoStar Insight: By Cutting Rates Near Zero, Fed Hopes to Keep Credit Flowing to Households and Businesses
Federal Reserve Chair Powell answers a reporter's question at a March 3, 2020 press conference. (Federal Reserve)
Federal Reserve Chair Powell answers a reporter's question at a March 3, 2020 press conference. (Federal Reserve)
By Galina Alexeenko
CoStar Analytics
March 16, 2020 | 4:16 AM

The Federal Reserve's decision to cut its benchmark interest rate to virtually zero on Sunday aims to support wobbly financial markets spooked by the coronavirus pandemic and provide a financial cushion for companies facing new stresses.

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News | Federal Reserve's Latest Action Seeks to Support Markets Spooked by Coronavirus Fears