🔴 A historic event..

On December 16, 2008, then-Federal Reserve Chairman Ben Bernanke announced a cut in the interest rate to 0% 📉

This occurred during the global financial crisis that began in 2007–2008, when the U.S. Federal Reserve announced a reduction in the interest rate to 0% in response to the deep economic recession that swept through the U.S. and the global economy, marking an unprecedented step in American monetary policy..

The goal of lowering the interest rate to zero was to stimulate borrowing and investment and support the severely declining economy at that time..

This unconventional monetary policy later paved the way for the use of broader tools such as quantitative easing (QE) in an attempt to revive growth and reduce recession..$BTC