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Federal Reserve slashes key interest rate, rolls out massive response to pandemic

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Faced with a growing economic shutdown from the coronavirus pandemic, the Federal Reserve on Sunday announced drastic emergency measures to shore up confidence and keep the financial sector running, including slashing the key interest rate to virtually zero.

[WASHINGTON] The Federal Reserve swept into action on Sunday to save the US economy from the fallout of the coronavirus, slashing its benchmark interest rate by a full percentage point to near zero and promising to boost its bond holdings by at least US$700 billion.

In remarks underlining...

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