U.S. Fed rolls out third emergency program to ensure liquidity in money market mutual funds
The U.S. Federal Reserve on Wednesday announced its third emergency fiscal package to be introduced in two days.
The credit program will offer loans to banks that offer as collateral assets bought from money market mutual funds.
The newly-established facility brought through the Boston Federal Reserve will offer a so-called “support for the flow of credit to households and businesses". The proposition will take effect by guaranteeing the $3.8 trillion market mutual funds industry the ability to sell its holdings of U.S. Treasury bonds as well as other high quality assets at full price in the event that investors would ask to withdraw their money.
Apple, Google, Amazon, and Facebook’s chief executive officers faced Republican and Democratic U.S. lawmakers on Wednesday for the much-anticipated congressional hearing. The CEOs were questioned for alleged abuse of their market power ...
The dollar was briefly lifted on Thursday after the U.S. Federal Reserve offered no concrete clues about its next course of action, while investors hoped for an easy policy as the coronavirus resurgence stalled economic recovery. The dollar ...
Asian stocks advanced on the prospect of ultra-easy monetary policy as the U.S. Federal Reserve kept interest rates near zero. Fed deemed it necessary to salvage the ailing economy, dragging the dollar down to a two-year low. The target range ...
On Wednesday, European stocks rose slightly after mixed earnings reports. However, the new wave of the coronavirus outbreak kept investors cautious while they also wait for the U.S. Federal Reserve’s announcement. The Stoxx Europe 600 ...
The dollar sat near two-year lows on Wednesday as the United States struggled to control the coronavirus outbreak, breaking hopes for a fast economic recovery. The gloomy outlook for the U.S. economy is expected to urge the Federal Reserve ...