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The Federal Reserve lowered the federal funds rate (which directly affects the prime interest rate) to near zero. What does this mean and why was

The Federal Reserve lowered the "federal funds rate" (which directly affects the prime interest rate) to "near zero." What does this mean and why was this done? How did the markets react to this on Monday, March 16? What would you propose to help the stock market if cutting the federal funds rate (twice in the last few weeks) is not helping?

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