Yesterday, the US Federal Reserve announced the extension of its bond-buying program, which it had designed to tackle the Corona crisis due to the ongoing pandemic. The bank stated that the program, which was scheduled to continue until the end of next September, will continue until the end of this year, indicating that this step would provide safety for planning and ensure the continued availability of programs to support the economic recovery.
Jerome Powell, President of the Central Bank, will hold a press conference today, Wednesday, following two days of consultations by the Capital Market Committee and clarify the decisions of the Committee. Before the session, analysts had expected the crisis programs to extend in light of the ongoing pandemic.
The board has been cutting the key interest rate to almost zero this year, as it has doubled bond purchases and launched large-scale credit programs to stabilize financial markets and the real economy. According to experts, the measures decided by the Central Bank in the shortest time to face the crisis, are greater than those taken after the 2009-08 financial crisis.
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