Fed may take boldest steps in a decade to ease virus impact

The Federal Reserve is all but sure to take its most drastic steps Wednesday since the depths of the 2008 financial crisis to try to counter the coronavirus' growing damage to the U.S. economy and the financial markets. With the virus' spread causing a broad shutdown of economic activity in the United States, the Fed faces a daunting task. Some economists say the policymakers, led by Chair Jerome Powell, could cut their already low benchmark interest rate by up to a full percentage point.