This morning, Federal Reserve Chairman Jerome Powell will be speaking on the just-unveiled $2.3 trillion plan to get more money flowing throughout our shutdown economy.
The Fed’s dual mandate is stable prices and full employment. This morning we learned that another 6 million people have filed for unemployment insurance last week, which is on top of the 10 million cumulative from the previous two weeks. Small and midsize enterprises account for more than 40% of all economic activity and employment – so going directly to Main Street with a lending facility is every bit as vital as lowering overnight borrowing rates for banks. Arguably, it’s even more directly effective.
Read the Full Article Here: https://thereformedbroker.com/2020/04/09/the-fed-finds-another-kitchen-sink-to-throw-at-us/
Author: Joshua M Brown