The Federal Reserve on Tuesday cut a key U.S. interest rate by 1/2-point point just hours after the G-7 nations pledged to “use all appropriate policy tools”
to safeguard the global economy against further damage. The Group of
Seven is composed of the U.S., U.K., Canada, France, Germany, Italy and
Japan.
Stocks DJIA, -0.20%
surged on Monday after the G-7 announced plans to meet, with equities
turning positive in Tuesday action after the rate reduction. U.S.
Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome
Powell took part in the call before the U.S. stock market opened.
https://www.marketwatch.com/story/covid-19-and-the-economy-fed-rate-cut-calls-grow-as-coronavirus-spreads-globally-2020-02-28?siteid=rss&rss=1
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