The US economy is facing an "enormous amount of debt", so the challenge for the Federal Reserve is to keep interest rates high enough to benefit lenders, but not so high as to cause problems debtors, said the famous billionaire investor Ray Dalio, on CNBC. His statement comes after the US central bank cut its benchmark interest rate by 0.5%, taking the federal funds rate to a range of 4.75-5%, the first cut since the Covid pandemic. The rate determines the cost of short-term borrowing for banks

Tag-uri: Coronavirus