Name: Breaking news concerning the U.S. economy
Uploaded: 2020-03-20T01:51:49.000Z
Duration: 1 min 52 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

S economy after the stock market's volatile week and falling into a bear market.

The Fed taking emergency action today cutting rates once again, this time to near zero.

President Trump urging Americans not to hoard as people rushed to stock up on supplies.

NBC's chief business correspondent, Rebecca Jarvis, has more tonight the Federal Reserve announcing rare emergency action to calm financial fears, cutting interest rates to near 0% their lowest level since the great recession.

President Trump, who has been critical of the Fed previously tonight applauding and I want to congratulate the Federal Reserve.

Since the record highs last month, the Dow is now down 21%.

Now one of the nation's top economists, Mark Zandi, predicting our new normal store closures, like Nike and Apple restaurant traffic and travel way down will cost the economy $120 billion in GDP by the end of March.

Issuing this warning well, the economy shrinking.

But Treasury Secretary Steve Mnuchin disagrees, saying the virus won't cause a recession.

And later in the year, obviously, the economic activity will pick up as we confront this virus.

S economy entered this challenging time on strong financial footing.

They say they'll keep the new policy in place until it's clear the U.

S economy has weathered the storm and is back on track.

Thanks for checking on the ABC News YouTube channel.

If you'd like to get more video show highlights and watch live event coverage, click on the right over here to subscribe to our channel.

And don't forget to download the ABC News after breaking news alerts.

Subtitles ListPlay Video

Breaking news concerning the U.S. economy

subscribe

critical

urge

track