In 2020, the Federal Reserve cut interest rates on March 3rd. Since the outbreak of new crown pneumonia, the global economic growth has been weak, and interest rate cuts can reduce financing costs and become an important means for countries to get rid of difficulties. In response to COVID-19's impact on the US economy, on March 3rd, the Federal Reserve announced an emergency interest rate cut, cutting the benchmark interest rate by 50 basis points, which was the first emergency interest rate cut since the financial crisis in June 5438+February 2008.