Us central bank cuts rate to zero here are five things to start your day

Here are five things to start your day:

  1. US Central Bank Cuts Interest Rate to Zero: The Federal Reserve has cut its benchmark interest rate to near zero, aiming to stimulate the economy amid the COVID-19 pandemic. This move is expected to make borrowing cheaper and boost economic growth.
  2. Global Markets React: Stock markets around the world are reacting to the news, with major indices experiencing significant gains. The Dow Jones Industrial Average is up over 2%, while the S&P 500 is up over 1.5%.
  3. Economic Impact: The rate cut is expected to have a positive impact on the economy, particularly for small businesses and consumers. It may also lead to lower borrowing costs for mortgages, credit cards, and other loans.
  4. Unemployment Claims: Initial unemployment claims in the US rose to 3.3 million last week, the highest level since 1982. This is a sign of the significant disruption caused by the pandemic to the labor market.
  5. Vaccine Updates: There are reports of promising developments in the search for a COVID-19 vaccine. A vaccine developed by AstraZeneca and the University of Oxford has shown promising results in early trials, and another vaccine developed by Pfizer and BioNTech is expected to begin human trials soon.

These are just a few of the top stories to start your day. Stay safe and stay informed!