“The effects of coronavirus will have an impact on economic activity in the short term, and this poses a threat to economic prospects. In the light of this development, the committee decided to lower the target range of the federal funds rate to 0-0.25%, ”the Federal Reserve Committee said.
Earlier, US President Donald Trump called on the Fed to continue to cut interest rates to the level of competing countries.
On March 3, the agency lowered its key rate from 1.5-1.75% per annum to 1-1.25% against the backdrop of developing risks caused by the situation with coronavirus.