U.S. Fed Emergency Meeting on Zero Interest Rate Policy Decision Minutes Published 9:24 on April 9
In response to the spread of the new coronavirus infection, the minutes of an emergency meeting when the US Federal Reserve Board decided to introduce a zero interest rate policy were released last month, and participants said that It was understood that discussions were proceeding in a tense state, with a series of opinions saying that it was difficult to see how much economic activity would halt.
According to the minutes released on Tuesday, the Fed's emergency meeting, which was held ahead of schedule, took place on Sunday, 15th, last month at 10:00 am via videoconference.
With the spread of the new coronavirus, the financial markets were turbulent, with the Dow Jones average two-time low in the New York Stock Market.
The meeting shared the perception that domestic corporate activity, consumption and employment were rapidly deteriorating, with most participants agreeing to a sharp cut in response to the crisis.
In addition, it was difficult to foresee the period during which economic activity was halted and the seriousness of the impact.
The Fed announced on this evening that it would introduce a de facto zero interest rate policy and quantitative easing at the same time, followed by additional easing measures to stabilize financial markets. We have a policy.