(Reuters) - The Federal Reserve will cut U.S. interest rates by 25 basis points later this month but it is a close call, according to a Reuters poll of economists who have substantially raised their forecasts for the chances of a recession following the coronavirus outbreak.
Those conclusions come after the Fed chopped interest rates by 50 basis points on Tuesday - its first such emergency move since the financial crisis - to offset economic risks from the virus which have rocked financial markets for weeks.
But a large majority of respondents - just over 85% - challenged the move, saying that cutting interest rates was not the most effective policy to fight disruptions from the spreading coronavirus epidemic.


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