AP Explains: What did the Federal Reserve do Sunday and why?
WASHINGTON — Brandishing an array of financial weapons, the Federal Reserve announced extraordinary action Sunday to try to blunt the heavy damage the coronavirus outbreak has begun to inflict on the U.S. economy.It’s slashing its benchmark interest rate to near zero. It’s buying $700 billion in bonds. It’s moving aggressively to smooth disruptions in the Treasury market.And it’s prepared to do more.The surprise intervention was an acknowledgement by […]
