As stocks headed for their worst day since 1987’s Black Monday Crash, the Fed announced further measures to prop up liquidity including a potential injection of more than $1.5 trillion into the market by theothersarahh
, the Federal Reserve announced further measures to prop up liquidity including a potential injection of more than $1.5 trillion into the market; stocks responded immediately, cutting losses in half on the announcement, before dropping back down 8%.
“These changes are being made to address highly unusual disruptions in Treasury financing markets associated with the coronavirus outbreak,” the New York Fed said in aThe Fed also widened the range for its reserve management purchases—which had previously been restricted to short-term Treasury bills—to include other types of financial instruments.
It’s the third time in four days the New York Fed has announced that it will bulk up lending in the repo market: on Tuesday, it announced an injection of $50 billion, and it added another $25 billion on Wednesday.
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