Economy

ANALYSIS: Why the Fed slashed interest rates to zero, and why it may not be enough

By Joseph Lawler
Published March 16, 2020 11:38am ET
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ANALYSIS: Why the Fed slashed interest rates to zero, and why it may not be enough
Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a Senate Banking Committee hearing in Washington, D.C., U.S., on Thursday, July 11, 2019. | (Andrew Harrer/Bloomberg)

The Federal Reserve has never seen a hard stop to commerce like this.

A week ago, college basketball fans were looking forward to March Madness. Cities were planning St. Patrick’s Day parades. Las Vegas was booming.

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COVID-19 Economy Federal Reserve Jerome Powell Monetary Policy News