The U.S. Federal Reserve cut interest rates on Tuesday in an emergency move designed to shield the world's largest economy from the impact of the coronavirus.It was the Fed's first emergency rate cut since 2008 at the height of the financial crisis, underscoring how grave the central bank views the fast-evolving situation.
In a statement, the central bank said it was cutting rates by a half percentage point to a target range of 1.00% to 1.25%.
