Fed Announces: $ 2.3 Trillion Support!

Fed Announces: $ 2.3 Trillion Support!

The number of cases in the country is half a million, this rate of spread of the virus leaves the country in a difficult situation economically and this process will continue as well as the measures taken have been increased. The U.S. Central Bank ( Fed) has announced a series of additional measures totaling $ 2.3 trillion to support local governments and medium and small businesses in the country. The Fed will provide a 4-year loan to companies with less than 10,000 employees through banks. In addition, the Fed will directly purchase short-term bonds issued by the states and the US's most populated residential areas. Purchases will reach $ 500 billion. FED CHAIRMAN SAYS STABILITY "During this limited period of economic activity, the Fed's task is to provide as much relief and stability as possible. Our steps today will help the recovery be as strong as possible," said Fed President Jerome Powell.