Federal Reserve Launches QE Infinity buying Treasuries, MBS and Commercial Paper

Helmholtz Watson

Fed Beige Book: Wed 15 Apr 2020

[b]Comments in the Fed’s Beige Book:
Activity contracted sharply and abruptly across all regions
Hardest hit industries were leisure and hospitality, and retail aside from essential goods
Most Districts reported declines in manufacturing

All Districts reported highly uncertain outlooks among business contacts, with most expecting conditions to worsen in the next several months
Employment declined in all Districts, steeply in many cases
Many Districts said severe job cuts were widespread, including the manufacturing and energy sectors