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Federal Reserve Says It’ll Buy Unlimited Amount of Bonds as U.S. Unemployment Skyrockets

HeadlineMar 24, 2020

In an unprecedented move to salvage the U.S. economy, the Federal Reserve said Monday it would buy unlimited amounts of Treasury bonds and mortgage-backed securities, and extend loans to businesses. The Labor Department is expected to report next week that a record-breaking 3 million Americans have filed first-time claims for unemployment. The president of the St. Louis Federal Reserve predicted the U.S. unemployment rate could hit 30% in the coming weeks and months.

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