Coronavirus uncertainty causes 'major downside risks': Fed minutes

MG News | April 09, 2020 at 12:15 AM GMT+05:00

0:00

April 09, 2020: The uncertainty around the duration and severity of global coronavirus pandemic creates "major downside risks" to the US economy, the Federal Reserve said Wednesday.

But while the shutdowns imposed to contain the virus create a hardship for businesses and households, it should not have the lasting impact that was seen in the wake of the global financial crisis in 2008, the Fed said in the minutes of the March 15 emergency policy meeting, when the central bank slashed the benchmark interest rate to zero.

AFP/APP

Related News

Name	Price/Vol	%Chg/NChg
KSE100	160,101.03 374.97M	-1.27% -2062.78
ALLSHR	97,525.54 1,017.39M	-1.28% -1263.78
KSE30	48,859.40 134.69M	-1.13% -559.19
KMI30	232,188.88 82.63M	-1.44% -3403.91
KMIALLSHR	63,958.79 443.85M	-1.53% -996.37
BKTi	44,948.04 67.45M	-1.08% -489.73
OGTi	31,541.13 6.10M	-1.89% -609.00

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	115,715.00	116,285.00 113,620.00	645.00 0.56%
BRENT CRUDE	64.43	65.76 64.00	-1.19 -1.81%
RICHARDS BAY COAL MONTHLY	80.50	0.00 0.00	-1.00 -1.23%
ROTTERDAM COAL MONTHLY	92.50	0.00 0.00	0.00 0.00%
USD RBD PALM OLEIN	1,082.50	1,082.50 1,082.50	0.00 0.00%
CRUDE OIL - WTI	60.21	61.50 59.76	-1.10 -1.79%
SUGAR #11 WORLD	14.39	14.59 14.28	-0.07 -0.48%