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Economy

Fed cuts rates to near zero, resumes quantitative easing

Will buy at least $700bn in Treasuries and mortgage-backed securities

The Fed already cut interest rates by half a percentage point on March 3.   © Reuters

WASHINGTON (Reuters) -- The U.S. Federal Reserve slashed rates back to near zero, restarted bond buying and joined with other central banks to ensure liquidity in dollar lending to help put a floor under a rapidly disintegrating global economy during the escalating coronavirus pandemic.

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