Finance

Fed releases minutes from meeting where it took rates to zero because of coronavirus

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Federal Reserve policymakers at their March 15 meeting indicated that not only did they consider it important to use all their rate power now, but also that they intend to keep rates anchored at the bottom for the foreseeable future, according to minutes released Wednesday.

The minutes reflected central bankers concerned about the impact the coronavirus was having on the economy.

“All participants viewed the near-term U.S. economic outlook as having deteriorated sharply in recent weeks and as having become profoundly uncertain,” the minutes said.

The meeting, held remotely on a Sunday afternoon, resulted in the committee taking down its policy rate to where it was during the financial…



Source cnbc.com

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