The Federal Reserve has now entered into unlimited and...

The Federal Reserve has now entered into unlimited and open-ended QE.

https://www.wsj.com/articles/federa...ajor-expansion-of-market-supports-11584964844

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  Fed Unveils Major Expansion of Market Intervention
  
  Central bank will begin lending operations to unclog corporate and municipal debt markets

By
Nick Timiraos
Updated March 23, 2020 12:23 pm ET

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, backstopping funds to municipalities and purchasing hundreds of billions of dollars of government debt—to help an American economy in a race against time.

https://edition.cnn.com/2020/03/23/business/federal-reserve-emergency-recession/index.html

Fed takes emergency action to stave off a depression

By Matt Egan

Updated 1730 GMT (0130 HKT) March 23, 2020

The Federal Reserve is signaling it will do whatever it takes to save the coronavirus-ravaged American economy from a depression.
The US central bank massively accelerated its rescue plans Monday by announcing unlimited bond-buying, three new credit facilities and an upcoming Main Street lending program.
Taken together, the Fed said the new programs will provide up to $300 billion in new financing to an economy getting crushed by the crippling health restrictions aimed at fighting the pandemic. The Fed is going all out to prevent the health crisis from turning into a full-blown financial crisis.
Crucially, the Fed pledged to buy bonds "in the amounts needed" to support markets, signaling there are no bounds to its rescue effort. And the Fed is invoking emergency powers to set up a special entity that will buy corporate bonds. The shackles have been removed.
That promise echoed Mario Draghi's vow last decade to do "whatever it takes" to prevent the collapse of the eurozone.