Powell at FSOC meeting in Washington: Thu 26 Mar 2020
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%