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- Mar 3, 202090% CONFIDENCEfrom the source
Fed Makes an Emergency Half-Point Cut to 1.00%-1.25% Over Coronavirus Risks Between Meetings
- The Federal Open Market Committee met on a Sunday and decided on 3 March 2020 to lower the target range for the federal funds rate by 1/2 percentage point to 1.00%-1.25%, with the statement released at 10:00 a.m. EST[1]
- The statement opened: "The fundamentals of the U.S. economy remain strong."[1]
- The statement said the coronavirus posed evolving risks to economic activity and that the Committee would use its tools and act as appropriate to support the economy[1]
- All 10 voting members voted for the action[1]
- Chair Jerome Powell held a press conference by conference call after the statement[2]
References 293% CONFIDENCEOverall confidence: 93%How well the pin's source and references back up its dates.Weighted average of how firmly 2 references, the source included, support the pin's start and end times; a reference counts half as much for every 180 days older than the newestShow all pins at 75% confidence or better
The first entry is always the pin's source. Overall confidence is a weighted average of how firmly each reference supports the start and end times used above; a reference counts half as much for every 180 days older than the newest.
- [1]90%federalreserve.gov/newsevents/pressreleases/monetary20200303a.htmfederalreserve.gov· Posted Oct 1, 2026· Starts Mar 3, 2020 ✓· 50% of score
The Federal Reserve's[2] statement is dated 3 March 2020 and marked for release at 10:00 a.m. EST, an action taken between scheduled meetings.
- [2]95%FOMC Meeting calendars, statements, and minutes (2020) - Federal Reserve Boardfederalreserve.gov· Added Oct 1, 2026· 50% of score
The Federal Reserve's[1] own 2020 calendar page lists the March 2020 meeting and links its statement, implementation note and press conference.
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