Fed Bolsters Efforts to Stem Economic Impact of Coronavirus

The Federal Reserve, in its most aggressive actions to date, announced further steps yesterday to mitigate the economic impact of the coronavirus pandemic, including actions strongly advocated for over the weekend by the Mortgage Bankers Association.

Fed Cuts Interest Rates to Zero; Announces $700 Billion in Stimulus

The Federal Reserve yesterday pre-empted its own regularly scheduled policy meeting this week, announcing an extraordinary full percentage point cut to the federal funds rate and sweeping purchases of government bonds and agency mortgage-backed securities.