Fed Chair Powell is crossing the wires, speaking at the FSOC meeting in Washington and has stated that they are now working on the main street business lending program.
- The Federal Reserve has taken a series of aggressive actions.
- We are committed to using all tools to safeguard the economy.
- Working now on a Main Street business lending program.
- Fed committed to using all tools to safeguard economy.
- Fed has been purchasing 125 billion insecurities every day this week.
- Fed has been Buying corporate bonds, asset-backed securities, municipal bonds, and mortgage-backed securities.
- Established a $300 billion treasury back lending program.
- Fed is setting up Main Street loan facility.
- Fed is lowering the target rate by 1.5% to 0.25%.
More to come...
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