Source: Statista

In an attempt to shield the economy from the fallout of the coronavirus outbreak, the Federal Reserve issued an emergency rate cut for the second time in just two weeks. After slashing the federal funds rate by 0.5 percent to a target range of 1.00 to 1.25 percent on March 3, the Federal Open Market Committee (FOMC) moved again on Sunday, lowering the target range to 0.00 to 0.25 percent, bringing it back to levels last seen in the wake of the financial crisis.

While pointing out that that the U.S. economy came into this challenging period on a strong footing, the FOMC stated that “the coronavirus outbreak has harmed communities and disrupted economic activity in many countries, including the United States. The effects of the coronavirus will weigh on economic activity in the near term and pose risks to the economic outlook. In light of these developments, the Committee decided to lower the target range for the federal funds rate to 0 to 1/4 percent.

DESCRIPTION

This chart shows the U.S. federal funds target rate since 2007.

 Report Download ChartURL TO BE USED AS REFERENCE LINK:HTML CODE TO EMBED CHART