# Federal Reserve cuts rates to zero to support the economy during the coronavirus pandemic | CNN Business

> The Federal Reserve announced on Sunday that it would cut interest rates to zero to support the economy during the coronavirus pandemic. The move aims to ease financial conditions as the outbreak disrupts economic activity.

- Date: 2020-03-16 · published 2020-03-16T12:00:00.000Z
- Category: macro · region US · magnitude high
- Page: https://feedsoft.ai/events/54045-federal-reserve-cuts-rates-to-zero-to-support-the-economy-during-the
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A move to zero rates is a major easing step that weakens the dollar and supports commodity prices broadly. It also signals that central banks are prepared to respond aggressively to demand shocks from the pandemic.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2019-10-30 | [Fed cuts rates for the third time as US economy slows \| CNN Business](https://feedsoft.ai/events/56485-fed-cuts-rates-for-the-third-time-as-us-economy-slows-cnn-business.md) | +0.1% | +1.0% |
| DXY | 2023-12-08 | [Dow surges to new record as Fed signals three rate cuts in 2024 \| CNN Business](https://feedsoft.ai/events/32472-dow-surges-to-new-record-as-fed-signals-three-rate-cuts-in-2024-cnn-business.md) | -0.9% | -1.1% |
| DXY | 2024-08-26 | [Interest rates: US dollar sinks as traders position for rate cuts by the Federal Reserve](https://feedsoft.ai/events/28691-interest-rates-us-dollar-sinks-as-traders-position-for-rate-cuts-by-the-federal.md) | +0.7% | -0.0% |
| DXY | 2019-11-01 | [Analysis When the US Federal Reserve acts, the Australian economy braces for damage](https://feedsoft.ai/events/56332-analysis-when-the-us-federal-reserve-acts-the-australian-economy-braces-for.md) | +0.2% | +0.9% |
| DXY | 2019-06-02 | [The Australian dollar is grinding higher as expectations for rate cuts from the US Federal Reserve build](https://feedsoft.ai/events/58849-the-australian-dollar-is-grinding-higher-as-expectations-for-rate-cuts-from-the.md) | -0.8% | -1.8% |

## Sources

- cnn.com: https://www.cnn.com/2020/03/15/economy/federal-reserve

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.