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Seven Days: 27 March 2020

Seven Days: 27 March 2020

Major US stimulus

$2 trillion package

At the time of going to press, Washington had just reached agreement on a $2 trillion (£1.7 trillion) fiscal stimulus package to safeguard the US economy. This followed on from a pledge by the US's Federal Reserve on Monday 23 March to buy an unlimited number of treasury bonds. The Federal Open Market Committee (FOMC) will continue with its asset-purchasing scheme “in the amounts needed to support smooth market functioning and effective transmission of monetary policy to broader financial conditions and the economy”. The Fed is also buying up corporate bonds. 

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