5 hours ago
WASHINGTON: The US Federal Reserve announced on Monday a series of new measures that will allow a large number of companies to obtain new funds to be able to overcome the “serious” economic “turmoil” caused by the outbreak of the Corona virus, which is emerging.
The Federal Reserve confirmed that it would do everything possible to help markets continue to operate, and launched a new program of $ 300 billion in aid “to support the flow of credit to employees, consumers and businesses.”
The Federal Reserve pledged to “prepare a loan program for SMEs” that is the main component of the US economy.
The Federal Reserve said in a statement that “in light of the existing state of uncertainty, it has become certain that our economy will face serious turmoil.”
Therefore, “great efforts must be made to support the public and private sectors, to reduce job losses and incomes and to allow a rapid recovery once the unrest falls,” according to the statement.
The Federal Reserve has injected liquidity into the markets and doubled support measures since the outbreak of the Corona virus began in the United States.