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Fed Chair Powell: The Fed Is Going To "Go In Strong" On Asset Purchases
Fed Chair Powell: There Is No Weekly Or Monthly Cap On Asset Purchases
— LiveSquawk (@LiveSquawk) March 15, 2020
-The Fed Is Going To "Go In Strong" On Asset Purchases
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Powell says Fed is ‘willing to be patient’ before raising rates again amid coronavirus slowdown
Federal Reserve chairman Jerome Powell made the remarks on Sunday during a press conference. The comments came after the central bank said it was cutting interest rates to near zero and launching a massive $700 billion quantitative easing program in a bid to prop up the economy as the coronavirus outbreak continues to roil markets. The Fed cut rates to a new range of 0% to 0.25% from 1% to 1.25% and said it would remain there “until it is confident that the economy has weathered recent events and is on track to achieve its maximum employment and price stability goals.” The quantitative easing will take the form ... (full story)
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