Federal Reserve

The Fed has introduced a series of moves to increase liquidity

The Treasury Dept will provide $10 billion in credit protection guarantees for the loans to banks and other financial institutions

The 10-year yield is up over 75 basis points after the Fed cut rates to zero.

The central bank is looking to shore up liquidity in order to keep the markets operating.

Mester said she supported all of the actions taken by the Fed, including $700 billion in asset purchases, but that she preferred to reduce interest rates by 50 basis points, rather than 100 basis points.

The commercial paper market has been under strain in recent days as the coronavirus pandemic threatens the U.S. economy. 

In the past, banks have shied away from borrowing directly from the central bank, for fear that investors would perceive such a move as signs of impending trouble.

Dow Jones Industrial Average futures were lower after the Fed's emergency move.

U.S. equity futures plunged after the Federal Reserve cut rates to near zero and announced a $700 billion asset-purchase program,

The Fed made an emergency cut on Sunday evening, sending its benchmark federal fund rates to near zero.

Trump calls the Fed's latest cut 'phenomenal news'

The Federal Reserve said Sunday it is lowering interest rates for a second time since the coronavirus outbreak began infecting the global economy.

Trump said Saturday that he did not intend to fire Powell, but that he was "not happy with the Fed" and its response to market turmoil.

Trump wants Congress to let people keep all the money they earned until the end of the year.

U.S. equity markets more than halved their losses following the announcement with the Dow Jones Industrial Average briefly trimming its losses from about 2,000 points to 800 points in a matter of minutes.

The Federal Reserve Bank of New York announced Wednesday that it would increase its lending in short-term funding markets in an attempt to calm investors’ fears as the coronavirus wreaks havoc in the financial markets.

The cut was the first move to take place outside the BoE's normal schedule since the 2008 financial crisis

The announcement comes as financial markets are in turmoil due to concerns about the fast-spreading coronavirus.

Trading in interest-rate futures tracked by the CME Group indicates a 50 percent chance the Fed will slash rates another 50 basis points when its monetary policy committee meets on March 18, mirroring the emergency cut on March 3

Record-low mortgage rates means easy money, faster loan payoffs.