Federal Reserve cuts rates to zero and launches massive $700 billion quantitative easing program


fed reserve worthy us news(Worthy News) – The Federal Reserve, saying “the coronavirus outbreak has harmed communities and disrupted economic activity in many countries, including the United States,” cut interest rates to essentially zero on Sunday and launched a massive $700 billion quantitative easing program to shelter the economy from the effects of the virus.

The new fed funds rate, used as a benchmark both for short-term lending for financial institutions and as a peg to many consume rates, will now be targeted at 0%-0.25% down from a target range of 1% to 1.25%.

Facing highly disrupted financial markets, the Fed also slashed the rate of emergency lending at the discount window for banks by 125 bps to 0.25%, and lengthened the term of loans to 90 days. [ Source: CNBC (Read More…) ]

11
people are currently praying.

Worthy News reports from a biblical worldview with a commitment to accuracy, transparency, and editorial independence. Learn more about About Worthy News, our Editorial Standards, AI Use Policy, Ownership of Worthy News, News Tips and Corrections, and Worthy News Staff.

💡 Did you know? One of the best ways you can support Worthy News is by simply leaving a comment and sharing this article.

📢 Social media algorithms push content further when there’s more engagement — so every 👍 like, 💬 comment, and 🔄 share helps more people discover the truth. 🙌

Discuss this article in our forums

Latest Worthy News

Archaeologists Uncover Possible Exodus-Era Site Along Egypt’s Ancient Military Road
Israel’s High Court Blocks Army Radio Closure, Citing ‘Improper’ Motives
Netanyahu Tells Kushner Israel Remains Firmly Opposed to Palestinian State
Sweden’s King Mourns Victim Of Deadly High School Sword Attack
Ukraine Seeks More Satellite Support As Russian Strikes Drive Up Civilian Toll (Worthy News In-Depth)
Ukraine’s Mobilization Drive Faces Scrutiny Amid Abuse Claims (Worthy News In-Depth)
Hungary’s New President Urges Reborn Public Media To ‘Tell The Truth’ As Orbán Ally Quits
North Korea Fires 10 Ballistic Missiles After U.S., South Korea Shorten Joint Drills
Pentagon Orders 30 Universities to Review Foreign Research Ties Amid China Security Concerns
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.

Books by George Whitten

Identity in Messiah Revealed cover

Identity in Messiah Revealed https://identityinmessiah.com

A devotional journey calling believers out of self-doubt and into confident, Kingdom-rooted identity in the Messiah.

Buy on Amazon
The Eternal Kingdom Revealed cover

The Eternal Kingdom Revealed https://eternalkingdomrevealed.com

The Eternal Kingdom Revealed traces the Kingdom of God as the central story of Scripture, from before creation to the restoration of all things.

Buy on Amazon

As an Amazon Associate I earn from qualifying purchases.

Worthy Christian News