The Federal Reserve announced an emergency rate cut on Tuesday morning, a direct response to growing fears over the economic fallout of the coronavirus, which has already slammed real estate stocks and hit the hospitality industry particularly hard. Stocks began stabilizing Monday on word that the Fed could cut the benchmark rate, and continued into Tuesday, after the announcement. The Fed cut the rate by half a percentage point, noting while the U.S. economy remains
source https://therealdeal.com/2020/03/03/fed-cuts-rate-amid-coronavirus-spread-real-estate-stocks-start-to-rebound/
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