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Federal Reserve Slashes Interest Rates to Zero

Amid the widening coronavirus crisis, the Federal Reserve has slashed interest rates to zero. The emergency move is seen as an admission that the economy of the United States will be broadly impacted by the pandemic and that the government must make strong action if it hopes to counteract the virus's negative effects.

For weeks the President has been downplaying the coronavirus, and only a few weeks ago said the cases in the US would soon be "zero." At the moment, however, the cases are poised to eclipse 3,000, with many thousands to come in the next few weeks and months.

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