US Fed leads charge against economic hit from coronavirusUS Federal Reserve Chairman Jerome Powell denied the central bank was bowing to political pressure in the aggressive emergency interest rate cut. WASHINGTON: The US Federal Reserve led the charge in the global response to the growing economic risk posed by the coronavirus, announcing an emergency interest rate cut Tuesday to boost confidence. But many economists worry the aggressive move goes too far and, rather than calm fears, could unsettle investors worldwide if they view it as a sign the US central bank expects a recession. But the Fed chief acknowledged it is too soon to know how persistent and severe the impact will be. The cut was not enough for Trump, who demanded the central bank "further ease and, most importantly, come into line with other countries/competitors."

Source: Bangkok Post March 03, 2020 19:41 UTC