FED announces a number of new market support programs, including the purchase of open-ended assets

FED said on Monday it would launch a number of programs aimed at helping markets function, after which stock futures reported an immediate reduction in losses.

Initiatives include a commitment to continue the asset purchase program “in the amounts necessary to maintain the smooth functioning of the market and effectively transfer monetary policy to broader financial conditions and the economy.”

Others include a $ 300 billion lending program for Main Street businesses and a Term Secured Loan Facility during the financial crisis.

 Trader Georgi Bozhidarov

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