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EMERGENCY rate cut by Fed
While it may not directly impact Social Security recipients, anyone with retirement funds in the stock market will want to pay attention to moves that the Federal Reserve Board makes. The half point rate cut today in the federal funds rate came out of nowhere but is in direct response to a slowing global economy over fears of cornoavirus spread. The Fed also cut the discount rate, a rate rarely changed, by a quarter percentage point. Borrowing money will soon become cheaper, and the Fed hopes this will cushion declining growth rates in the overall U.S. economy. Full piece here in the Wall Street Journal.
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