Federal Reserve launches ‘unlimited QE’, but Wall Street slides – business live | Business

The USA Federal Reserve launched an aggressive plan to buy as many government-backed debts as needed to keep financial markets going, as well as plans for a $ 1.8 trillion bailout and more for businesses and consumers paralyzed in Congress.

The central bank announced on Monday a series of programs aimed at supporting large and small businesses that are already suffering from the coronavirus economic blow.

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"Aggressive efforts must be made in the public and private sectors to limit job and income losses and promote a rapid recovery once disruptions subside," the central bank said in a statement. declaration, adding that "the Federal Reserve is using its full range of authorities to provide powerful support for the flow of credit to American families and businesses."

As part of the effort, the central bank will re-launch a massive bond purchase program, the Term Asset Lending Term, or Talf, which was last used in response to the 2008 financial crisis, to support the flow of credit to consumers and companies.

The Fed had previously announced that it would buy at least $ 500 billion in Treasury bonds and at least $ 200 billion in mortgage-backed securities, but it will now buy bonds "in the amounts necessary to support the smooth functioning of the market" …

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