A new $2.3 trillion Fed plan to aid localities and companies
9 Apr 2020
The Federal Reserve unleashed a new series of moves Thursday to try to make loans available to states, localities and companies that have been hard hit by the coronavirus.
In doing so, the Fed will pump an additional $2.3 trillion into the U.S. economy. The central bank, in part, is drawing on money made available in Congress' new economic relief package to buy municipal bonds as well as debt that did not previously qualify for federal backing.