Fed minutes reveal alarm over economic and market disruption of coronavirus

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Federal Reserve officials reacted with growing concern over the market disruption caused by the spread of the coronavirus pandemic in March, prompting them to cut interest rates in two emergency meetings and announced their intention leave them unchanged until the economy recovers from its sudden stop.

The central bank released the minutes of the two meetings held on March 2 and 15 on Wednesday. The central bank lowered its key rate by half a percentage point after the first meeting and by a full percentage point to almost zero after…

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