Filament Sewing Embroidery Industrial Twisting Machine

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On the morning of March 23 local time, the Federal Reserve announced that because the new coronavirus pandemic caused "great difficulties" to all sectors of society, the Federal Reserve announced a wide range of new measures to support the economy, including open-ended asset purchase and expanding the liquidity convenience scale of the money market.

The Fed said it would buy $75 billion of treasury bonds and $50 billion of institutional mortgage-backed securities every day this week, and reset the daily and term repo rate quotation rate to 0%. In order to ensure market operation and monetary policy transmission, we will buy US bonds and MBS on demand.

At the same time, the Fed will begin to provide unprecedented credit support to households, small businesses and key employers.

In a statement, the Fed said the measures were taken because "it has become clear that our economy will face serious chaos.".

The Fed said it would work to use tools to support American workers, businesses and the economy in this challenging time. "The new coronavirus pandemic is creating enormous difficulties for the United States and countries around the world. Our country's top priority is to take care of those who are infected and limit the further spread of the virus. Despite the great uncertainty, it is clear that our economy will face serious chaos. We must take positive measures in the public and private sectors to limit losses to employment and income, and to promote a rapid economic recovery after a brief interruption. "

Monday's statement was the most radical market intervention by the fed so far. Previously, the Federal Reserve announced that it would buy US $500 billion worth of treasury bonds and US $200 billion worth of MBS. The new move represents an unlimited commitment to QE.

Peter boockvar, chief investment officer of Bleakley Consulting Group, said in a report, "we are now in a state of infinite easing again. "

Chris rupkey, chief financial economist at MUFG Union Bank, said: "the Fed's policy is moving to a higher gear, trying to help support an economy that currently appears to be in free fall." "The central bank is changing its role, not as the lender of last resort, but as the buyer of last resort. Don't ask how much they'll buy, it's real QE. "

The Fed also announced it would expand its commercial paper financing arrangements. The plan will now include "high quality, duty-free commercial paper" and lower prices. The Fed said the plans were supported by the Treasury.

The Fed said its role is to maximize employment and stabilize prices, and to take responsibility for the stability of the financial system. To support these goals, the Fed is using all its powers to provide strong support for the flow of credit to American households and businesses. These measures include many aspects.

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