Loading ...March 23 – Wall Street Journal (Nick Timiraos): “Federal Reserve Chairman Jerome Powell’s whatever-it-takes moment arrived Monday. The central bank signaled it would do practically anything—extending loans to big and small businesses and purchasing unlimited amounts of government debt—to help an American economy in a race against time. After firing its arsenal at funding markets last week to prevent a public health crisis from morphing into a financial crisis, the Fed said it would throw another kitchen sink this week at credit markets that have broken down. The central bank unveiled a new generation of lending facilities to prevent a liquidity crunch from turning into a solvency crisis for American businesses. ‘This is the first time they’ve really basically turned into a commercial bank instead of a central bank,’ said Michael Feroli, chief U.S. economist at JPMorgan.”
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