Fed to Buy Unlimited Government Debt, Lend to Businesses
The move is intended to help large and small businesses and local governments weather the coronavirus crisis.
- Published 23 March 2020
This article was republished here with permission from The Associated Press, however it is no longer available to read on Snopes.com.
WASHINGTON (AP) — In its boldest effort to protect the U.S. economy from the coronavirus, the Federal Reserve says it will buy as much government debt as it deems necessary and will also begin lending to small and large businesses and local governments to help them weather the crisis. The Fed’s announcement Monday removes any dollar limits from its plans to support the flow of credit through an economy that has been ravaged by the…