'A new risk to the global growth outlook': Here's what the Fed said about the coronavirus outbreak at its last meeting
The meeting took place days after the coronavirus outbreak began to drag on the US financial sector. The virusand infected more than 75,000 as of Wednesday morning, surpassing the death toll of 2003's SARS epidemic. The FOMC highlighted an uptick in economic growth across Asia, but warned that the spreading virus could quickly reverse any gains to gross domestic product.
The FOMC addressed a wide range of topics in the January meetings, including the possibility of a target inflation range instead of the current 2% goal. The Fed slashed its benchmark interest rate over three consecutive meetings in the second half of 2019, and has since hinted that it would keep the rate stable until inflation meets the desired level.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fed calls the coronavirus a 'new risk to global growth outlook'Though the coronavirus had just taken hold when the Fed met in January, officials already expressed concern about its economic impacts.
Read more »
U.S. consumers expect spending growth to slow: NY FedAmerican consumers expect their household spending to increase more slowly over ...
Read more »
Fed officials feel rates are likely to stay where they are, minutes show
Read more »
Fed calls the coronavirus a 'new risk to global growth outlook'Though the coronavirus had just taken hold when the Fed met in January, officials already expressed concern about its economic impacts.
Read more »
US futures point to slightly higher openMarket focus remains largely attuned to the potential economic fallout of the coronavirus outbreak.
Read more »