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Fed cuts interest rates to zero percent, announces $700B in bond purchases

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the staff of the Ridgewood blog

New York NJ,  The Federal Reserve on Sunday slashed interest rates to zero percent and announced it would purchases $700 billion in bonds and securities to stabilize financial markets and support the economy.

The emergency rate cut and push to flood the Treasury bond market with liquidity comes as the coronavirus pandemic forces businesses across the U.S. and world to shutter, likely plunging the global economy into a recession.

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