Practice English Speaking&Listening with: Federal Reserve slashes interest rates to near zero, launches new round of QE amid COVID-19 outbreak

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we started this morning with some breaking news a surprise emergency move

by the Federal Reserve to help the US economy ride the increasingly choppy

tides of the coronavirus a pandemic it says a slashing its benchmark

interest rate to zero and launching a massive 700 billion dollar quantitative

easing program to shelter the American economy now the target interest rate now

ranges from is zero percent to a quarter percent from the previous one to one and

a quarter percent here's President Trump speaking just moments ago on the feds

announcement it's really good news it's really great for our country it's

something that we're very happy I have to say this I'm very happy and they did

it in one step that didn't do it in four steps over a long period of time they

did it on one step and I think that people in the market should be very

thrilled and that brings us with the strongest country in the world by far

financially in every other way and that brings us in line with what other

countries are the quantitative easing will be in the form of 500 billion

dollars of Treasuries and 200 billion of agency backed mortgage securities with

effect saying adavi purchases will begin on Monday local time the last time the

Fed dropped its rates to zero was during the global financial crisis just over a

decades ago

The Description of Federal Reserve slashes interest rates to near zero, launches new round of QE amid COVID-19 outbreak