The U.S. Federal Reserve on Thursday rolled out a broad, US$2.3 trillion effort to bolster local governments and small and mid-sized businesses in ...
The U.S. Federal Reserve on Thursday rolled out a broad, US$2.3 trillion effort to bolster local governments and small and mid-sized businesses in its latest move to keep the U.S. economy intact as the country battles the coronavirus pandemic.
FILE PHOTO: The Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 27, 2019. REUTERS/Brendan McDermidWASHINGTON: The U.S. Federal Reserve on Thursday rolled out a broad, US$2.3 trillion effort to bolster local governments and small and mid-sized businesses in its latest move to keep the U.S. economy intact as the country battles the coronavirus pandemic.
The Fed said it would work through banks to offer 4-year loans to companies of up to 10,000 employees and directly buy the bonds of states and more populous counties and cities to help them respond to the health crisis.
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