Searcher

Published on Friday, April 10, 2020

Fed takes further action to contain economic fallout

The challenges faced by COVID-19 the Fed announced additional $750bn in loan support.With this additional action, the Fed has committed to providing $2.3Tn in loan to support the economy.Given the historic rise in unemployment claims it's not surprising that the Fed has taken further actions to contain the economic fallout.

Key points

  • Key points:
  • Initial jobless claims for the week ending on April 4th nearly matched the historic surge from the prior week with 6.6M people filing for unemployment benefits.
  • The Fed expanded the corporate credit programs by $750bn and broadened the scope of securities available that have access to the facility.

Geographies

  • Geography Tags
  • USA

Topics

Has this information been useful?

New comment

Be the first one to add a comment

Load more

You may also be interested in