JUST IN: The Federal Reserve announced additional action to help support the coronavirus-battered economy, saying it would provide up to $2.3 trillion in loans. The funding will assist 'households and employers of all sizes,' the agency says.
The Federal Reserve announced additional action on Thursday to help support the coronavirus-battered economy, saying it would provide up to $2.3 trillion in loans.
In a webinar Thursday with the Brookings Institute, Powell said he believes an economic rebound can be"robust" as the economy was in good shape before the pandemic and due to the large amount of cash and credit being pumped into it now. The organization urged for an economic rescue package"for all" ahead of the meetings between the World Bank, International Monetary Fund and G20 finance ministers scheduled for next week."The devastating economic fallout of the pandemic is being felt across the globe.
This task force will include Treasury Secretary Steve Mnuchin, Trump economic adviser Larry Kudlow and other top administration officials, plus additional people from the private sector, sources said.
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