U.S. Fed aims ‘bazooka’ to backstop coronavirus-hit economy

The U.S. Federal Reserve on Monday rolled out an extraordinary array of programs to backstop an economy reeling from sweeping restrictions on commerce that scientists say are needed to slow the coronavirus pandemic and ultimately keep more people safe.

or the first time, the Fed will back purchases of corporate bonds, backstop direct loans to companies and “soon” 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 stabilise financial markets.

The series of actions marks a massive intervention by the U.S. central bank beyond the financial markets

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