Federal Reserve cuts interest rate by half a point to address coronavirus slowdown

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Mar 03, 2020 Federal Reserve cuts interest rate by half a point to address coronavirus slowdown The Federal Reserve announced an emergency rate cut on Tuesday in response to the economic impact of the coronavirus spread, trimming the nation's benchmark borrowing rate by half a percentage point. "The coronavirus poses evolving risks to economic activity," the Fed's Open Market Committee said, adding that it took the action to help achieve maximum employment and the stability of prices. Read More Get the NBC News Mobile App Follow NBC News Check out all of NBCNEWS Newsletters here. Update Preferences | Unsubscribe | Contact | Privacy Update Preferences Unsubscribe Contact Privacy