3.23.20
The Fed has continually pulled out all stops in an effort to aid the U.S. economy. On Monday, the Fed unveiled a new generation of lending facilities to prevent a liquidity crunch from turning into a solvency crisis for American businesses. “This is the first time they’ve really basically turned into a commercial bank instead of a central bank,” said Michael Feroli, chief U.S. economist at JPMorgan. The move came as Congress works to give the Fed more options and tools to combat the economic downturn.
Read more via the Wall Street Journal.