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US Federal Reserve implements stimulus package to assist economy

The U.S. Federal Reserve on Monday implemented an extraordinary array of programmes to backstop an economy reeling from sweeping restrictions on people and businesses that scientists say are needed to limit the spread of the coronavirus.
 
For the first time, the Fed will back purchases of corporate bonds and make direct loans to companies, and will roll out a program to get credit to small and medium-sized business.
 
It also said it will expand its asset purchases by as much as needed to stabilize financial markets.


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