Feds Slash Interest Rates to <br />Near-Zero in Response to Pandemic It is the second time in the <br />past two weeks that the Board of <br />Governors of the Federal Reserve <br />cut interest rates. The rates are the lowest since <br />the financial crisis of 2008. The lowered rates are <br />an attempt by the Fed <br />to stabilize the U.S. economy. Federal Reserve, Statement, TechCrunch The cut rates follow the most <br />tumultuous week on Wall Street in decades. The coronavirus pandemic has <br />strained global supply chains, with <br />major retailers running out of basics <br />such as toilet paper and water. Countries such as Denmark and <br />Poland have closed their borders. <br />Travel bans have been instituted all over the world. On Sunday, the CDC recommended <br />the suspension of gatherings of 50 people or more.
