Fed commits to unlimited bond purchases in massive new programme
FOMC announces radical new measures and calls on other policy-makers to act aggressively
The Federal Reserve will buy essentially unlimited quantities of US Treasury bonds and mortgage-backed securities, and will greatly increase corporate debt purchases, it announced today (March 23).
The Federal Open Market Committee also announced a wide range of radical new interventions and expanded many other emergency programmes. It will now directly buy new debt from large US firms and revive a programme from the global financial crisis to support debt in the student and car loan sectors.
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