US Federal Reserve cut the policy rate by 50 basis points in an emergency meeting on March 3, 2020, due to evolving risks from coronavirus.
It is an attempt to ring-fence the US economy from the impact of coronavirus, Fed Chair Jerome Powell said. The surprise decision that came before its regularly-scheduled policy meeting shows the urgency to act to prevent a global recession.
Moneycontrol’s Sakshi Batra does a 3-point analysis of the policy action and the outlook going forward.
Watch the video for more.
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