The Fed reacts to coronavirus economic risks

Christian J. Galipeau

Christian J. Galipeau
Senior Investment Director, 03/06/20


  • On March 3, 2020, the Federal Reserve (FOMC) made an intra-meeting cut of 50 basis points to the federal funds rate.
  • While noting that the fundamentals of the U.S. economy remain strong, the FOMC statement cited the evolving economic risks posed by the coronavirus.
  • The Fed's December economic projection called for 2.0% GDP growth in 2020, but in the March 3 statement the FOMC added that it is "monitoring developments and implications for the economic outlook."
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