Federal Reserve Chair Jerome Powell walks pasts a reporter a the end of news conference, Tuesday, March 3, 2020, where he discussed an announcement from the Federal Open Market Committee, in Washington. In a surprise move, the Federal Reserve cut its benchmark interest rate by a sizable half-percentage point in an effort to support the economy in the face of the spreading coronavirus. Chairman Jerome Powell noted that the coronavirus "poses evolving risks to economic ac…
March 15, 2020
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Global economic coordination not happening in virus crisis
FRANKFURT, Germany (AP) — When the global economy melted down in 2008, world leaders swiftly created an international forum to boost economies by spending more and keeping trade open. Central banks announced rate cuts within seconds of each other.