Federal Reserve Takes Action To Boost Economy
FED TAKES EMERGENCY ACTION TO STAVE OFF A DEPRESSION
(CNN) – The Federal Reserve is going all out to stave off a full-blown financial crisis.
Signaling the U.S. Central Bank will do whatever it takes to save the coronavirus-ravaged economy.
The Federal Reserve announced on Monday unlimited bond-buying, three new credit facilities, and an upcoming main street lending program.
Together, the Federal Reserve said the new programs will provide up to $300-billion in new financing.
The Federal Reserve also said it expects to launch a program to support small- and medium-sized businesses.
Recession fears and a liquidity crunch have crashed the stock market over the past month and caused parts of the bond market to malfunction.
U.S. stock futures spiked on the new emergency actions from the fed, which has already slashed interest rates to zero.