Fed's Powell speaks at FSOC meeting in Washington: Fed has taken serious action

Author: Greg Michalowski | Category: Central Banks

Fed's Powell speaks at FSOC meeting in Washington

Fed's Powell says:
  • Fed has taken series of aggressive actions
  • Working now on a Main Street business lending program
  • Program well, once the bill passes
  • Fed committed to using all tools to safeguard economy

The Fed action has included:
  • purchasing $125 billion in securities every day this week
  • buying corporate bonds, asset-backed securities, municipal bonds, and mortgage-backed securities
  • Announcing that QE was unlimited
  • $300 billion treasury back lending program
  • setting up Main Street loan facility
  • lowering the target rate by 1.5% to 0.25%
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