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.
Federal Reserve Says It’ll Buy Unlimited Amount of Bonds as U.S. Unemployment Skyrockets
HeadlineMar 24, 2020