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Topic: Business
Number of pages / Number of words: 4 / 862
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“It is going to take some educational effort to elaborate on how these policy options would work” because “people don’t know how to interpret what they are talking about.”

The FOMC, which first started targeting the federal funds rate in the late 1980s, has lowered its benchmark by 4.25 percentage points since September last year...


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The last time it cut the rate to 1 percent, in 2003, the U.S. had already pulled out of a recession. This time, the central bank sees at least another half-year of economic contraction.

It’s unclear how specific the Fed will be in today’s statement in outlining options after exhausting rate cuts...


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