The Federal Reserve responded rapidly to stem losses from a 'synchronized global sell-off' to help markets function as investors fled to safety on worries about the coronavirus outbreak, a senior official at the New York Fed said on Friday.
- The Federal Reserve responded rapidly to stem losses from a “synchronized global sell-off” to help markets function as investors fled to safety on worries about the coronavirus outbreak, a senior official at the New York Fed said on Friday.
“The bottom line here is time is of the essence,” Singh said during a moderated discussion organized by the Money Marketeers of New York University. “The speed and the scale of downside pressure on the economy I think we’d all acknowledge is unprecedented in our lifetimes, so we’re doing whatever we can within our mandate to match that speed and scale.”
He recapped the steps the Fed has taken to help companies borrow by supporting the markets for commercial paper, corporate bonds and municipal bonds. The Fed’s efforts helped to stabilize short-term funding markets but some strain remains in the market for commercial paper, he said. Singh said the New York Fed will pay close attention to those working relationships to address potential conflicts of interest and to minimize risks.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
N.Y. Gov. Cuomo Orders Public Mask Use To Curb COVID-19 SpreadCuomo has joined other states and said people in New York must wear masks in public when they can't remain 6 feet apart, in order to protect the gains his state has made against the coronavirus.
Lire la suite »
NY Gov. Cuomo Orders Public Mask Use To Curb COVID-19 SpreadCuomo has joined other states and said people in New York must wear masks in public when they can't remain 6 feet apart, in order to protect the gains his state has made against the coronavirus.
Lire la suite »
Joaquin Phoenix Asks Gov. Andrew Cuomo to Release NY PrisonersJoaquin Phoenix is advocating for some prisoners to be released in order to prevent a coronavirus outbreak.
Lire la suite »
U.S. companies reeling from coronavirus fallout, Fed survey showsU.S. companies have been battered by the fallout from the novel coronavirus outbreak, with economic activity plunging at an unprecedented speed over the past few weeks, a Federal Reserve report released on Wednesday showed.
Lire la suite »
Cuomo: NY to contact nursing homes and facilities to find untested COVID-19 victimsDuring a press conference, New York Gov. Andrew Cuomo mentions New York State will now talk to local departments of health to meet new CDC guidance to find people who died of COVID-19 symptoms but couldn’t be tested.
Lire la suite »
N.Y. Extends Stay-at-Home Restrictions Through May 15Gov. Andrew Cuomo (NYGovCuomo) extended stay-at-home restrictions through mid-May and New York City is getting ready to use 11,000 empty hotel rooms for coronavirus quarantines
Lire la suite »