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Federal Reserve Chair Jerome Powell announces a half percentage point interest rate cut during a speech in Washington, on March 3, 2020. Mark Makela/Getty Images
WASHINGTON—The Federal Reserve, in a rare emergency step, cut short-term rates by half a percentage point on March 3 to protect the U.S. economy from the growing fallout of the global coronavirus outbreak.
The Fed’s move marks the biggest one-time rate cut since the 2008 financial crisis.
Emel Akan is a senior White House correspondent for The Epoch Times, where she covers the policies of the Trump administration. Previously, she reported on the Biden administration and the first term of President Trump. Before her journalism career, she worked in investment banking at JPMorgan. She holds an MBA from Georgetown University.
