Fed Announces Huge Capital Injection to Try to Stabilize Markets

(Worthy News) – The U.S. central banking system announced moves Thursday to stabilize the global financial system by putting $1.5 trillion into short-term lending markets, and the purchase of $60 billion in Treasury bonds to fuel the bond market.

A Fed statement said the highly unusual moves were made by Federal Reserve Bank Chairman Jerome Powell, who was sharply criticized by President Donald Trump last week for not responding more quickly with financial relief.

Brazilian President Jair Bolsonaro is reportedly being tested and monitored for the coronavirus after his communications secretary, Fabio Wajngarten, contracted the virus following their recent meeting with Trump at his Mar-a-Lago estate in the southeastern state of Florida. [ Source: VOA News (Read More…) ]