WABI speaks with Agrrawal about how businesses can prepare for new coronavirus
WABI (Channel 5) spoke with Pankaj Agrrawal, a professor of finance at the University of Maine, for the report “Should your business be preparing for the coronavirus?” On Tuesday, the Federal Reserve cut its interest rate by a half percentage point in an effort to slow the stock market slide that has resulted from the spread of the new coronavirus, COVID-19. Experts recommend looking at investments and overall finances, but not making any panicked decisions, the report states. The purpose of lowering rates “is to provide credit to small- and medium-sized businesses at a more affordable rate. So they should take advantage of that, and they can expand their operations,” said Agrrawal. “They say the ability to adapt is the highest form of intelligence.”