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Posted by: thepinetree on 03/23/2020 07:15 AM Updated by: thepinetree on 03/23/2020 07:15 AM
Expires: 01/01/2025 12:00 AM
:

Federal Reserve Announces Extensive New Measures to Support the Economy

Washington, DC...The Federal Reserve is committed to using its full range of tools to support households, businesses, and the U.S. economy overall in this challenging time. The coronavirus pandemic is causing tremendous hardship across the United States and around the world. Our nation's first priority is to care for those afflicted and to limit the further spread of the virus. While great uncertainty remains, it has become clear that our economy will face severe disruptions. Aggressive efforts must be taken across the public and private sectors to limit the losses to jobs and incomes and to promote a swift recovery once the disruptions abate.





The Federal Reserve's role is guided by its mandate from Congress to promote maximum employment and stable prices, along with its responsibilities to promote the stability of the financial system. In support of these goals, the Federal Reserve is using its full range of authorities to provide powerful support for the flow of credit to American families and businesses. These actions include:

Support for critical market functioning. The Federal Open Market Committee (FOMC) will purchase Treasury securities and agency mortgage-backed securities in the amounts needed to support smooth market functioning and effective transmission of monetary policy to broader financial conditions and the economy. The FOMC had previously announced it would purchase at least $500 billion of Treasury securities and at least $200 billion of mortgage-backed securities. In addition, the FOMC will include purchases of agency commercial mortgage-backed securities in its agency mortgage-backed security purchases.
Supporting the flow of credit to employers, consumers, and businesses by establishing new programs that, taken together, will provide up to $300 billion in new financing. The Department of the Treasury, using the Exchange Stabilization Fund (ESF), will provide $30 billion in equity to these facilities.
Establishment of two facilities to support credit to large employers – the Primary Market Corporate Credit Facility (PMCCF) for new bond and loan issuance and the Secondary Market Corporate Credit Facility (SMCCF) to provide liquidity for outstanding corporate bonds.
Establishment of a third facility, the Term Asset-Backed Securities Loan Facility (TALF), to support the flow of credit to consumers and businesses. The TALF will enable the issuance of asset-backed securities (ABS) backed by student loans, auto loans, credit card loans, loans guaranteed by the Small Business Administration (SBA), and certain other assets.
Facilitating the flow of credit to municipalities by expanding the Money Market Mutual Fund Liquidity Facility (MMLF) to include a wider range of securities, including municipal variable rate demand notes (VRDNs) and bank certificates of deposit.
Facilitating the flow of credit to municipalities by expanding the Commercial Paper Funding Facility (CPFF) to include high-quality, tax-exempt commercial paper as eligible securities. In addition, the pricing of the facility has been reduced.
In addition to the steps above, the Federal Reserve expects to announce soon the establishment of a Main Street Business Lending Program to support lending to eligible small-and-medium sized businesses, complementing efforts by the SBA.

The PMCCF will allow companies access to credit so that they are better able to maintain business operations and capacity during the period of dislocations related to the pandemic. This facility is open to investment grade companies and will provide bridge financing of four years. Borrowers may elect to defer interest and principal payments during the first six months of the loan, extendable at the Federal Reserve's discretion, in order to have additional cash on hand that can be used to pay employees and suppliers. The Federal Reserve will finance a special purpose vehicle (SPV) to make loans from the PMCCF to companies. The Treasury, using the ESF, will make an equity investment in the SPV.

The SMCCF will purchase in the secondary market corporate bonds issued by investment grade U.S. companies and U.S.-listed exchange-traded funds whose investment objective is to provide broad exposure to the market for U.S. investment grade corporate bonds. Treasury, using the ESF, will make an equity investment in the SPV established by the Federal Reserve for this facility.

Under the TALF, the Federal Reserve will lend on a non-recourse basis to holders of certain AAA-rated ABS backed by newly and recently originated consumer and small business loans. The Federal Reserve will lend an amount equal to the market value of the ABS less a haircut and will be secured at all times by the ABS. Treasury, using the ESF, will also make an equity investment in the SPV established by the Federal Reserve for this facility. The TALF, PMCCF and SMCCF are established by the Federal Reserve under the authority of Section 13(3) of the Federal Reserve Act, with approval of the Treasury Secretary.

These actions augment the measures taken by the Federal Reserve over the past week to support the flow of credit to households and businesses. These include:

The establishment of the CPFF, the MMLF, and the Primary Dealer Credit Facility;
The expansion of central bank liquidity swap lines;
Steps to enhance the availability and ease terms for borrowing at the discount window;
The elimination of reserve requirements;
Guidance encouraging banks to be flexible with customers experiencing financial challenges related to the coronavirus and to utilize their liquidity and capital buffers in doing so;
Statements encouraging the use of daylight credit at the Federal Reserve.
Taken together, these actions will provide support to a wide range of markets and institutions, thereby supporting the flow of credit in the economy.

The Federal Reserve will continue to use it full range of tools to support the flow of credit to households and businesses and thereby promote its maximum employment and price stability goals.


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Both political parties do this it's also on Snopes but no Dems would return calls...too embarrassed no doubt
Posted on: 2020-03-23 08:34:25   By: Anonymous
 
They try to pass these bills to help us, then on these bills our politicians try to sneak other bills on the coattails. They did this on Obamacare, not one politician read the whole 19,000 pages, because they kept hiding other bills in it. That has to stop, one BILL and then vote on it.
One party on the Voronavirus bill March 8th tried to hide taxpayer adortions in it. THIS HAS TO STOP

https://www.theblaze.com/news/report-pelosi-attempted-to-sneak-taxpayer-funded-abortions-into-the-coronavirus-relief-bill

[Reply ]

    Re: Both political parties do this it's also on Snopes but no Dems would return calls...too embarrassed no doubt
    Posted on: 2020-03-23 08:42:30   By: Anonymous
     
    Stop spreading lies. Abortion funding can’t altered. It’s specifically excluded from federal funding in the Hyde Amendment.


    [Reply ]

    Re: Both political parties do this it's also on Snopes but no Dems would return calls...too embarrassed no doubt
    Posted on: 2020-03-23 08:49:15   By: Anonymous
     
    Me again.
    Further reading, and I'm going to say it's not true on the tax payer abortion at least.
    Yes, unlike most I think, if I find it "might" not be true, I'll eat crow, (it's not as bad unless you're one of those zealots who'll never admit being wrong)
    BUT as for adding on other bills,this these corrupted politicians do, time after time. Perfect example was Obamacare and the 19,000 pages that no read completely ( well except that jerk here who said he read everything on the last impeachment trial, and everything connected to it before the trial, now that's what's called a lying POS zealot scum)
    Now to read on further

    [Reply ]

      Re: Both political parties do this it's also on Snopes but no Dems would return calls...too embarrassed no doubt
      Posted on: 2020-03-23 09:02:12   By: Anonymous
       
      Here's what I tried to read through, all these fake news articles
      Snopes could not get enough data to say true or false. Pelosi did uphold the bill by trying to add things all politicians do.
      That's why I said I was wrong on the abortion....this time
      Here's just the tip of the iceberg of fake news.
      It's a copy and paste from a smartphone but it shows 50 50 yes she did, no she didn't

      DuckDuckGo
      an abortion bill was in the coronavirus bill
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      Report: Pelosi attempted to sneak taxpayer-funded ...
      Search domain www.theblaze.com/news/report-pelosi-attempted-to-sneak-taxpayer-funded-abortions-into-the-coronavirus-relief-billhttps://www.theblaze.com/news/report-pelosi-attempted-to-sneak-taxpayer-funded-abortions-into-the-coronavirus-relief-bill
      In a tweet Thursday, Planned Parenthood attacked Republicans for wanting the Hyde Amendment included in the coronavirus relief bill: "Using this very real public health emergency to attack abortion coverage shows a despicable lack of concern about the severity of this crisis." Bill will be voted on
      Did Disagreement Over Abortion Slow Coronavirus-Relief Talks?
      Search domain www.snopes.com/news/2020/03/13/coronavirus-bill-abortion/https://www.snopes.com/news/2020/03/13/coronavirus-bill-abortion/
      Did Disagreement Over Abortion Slow Coronavirus-Relief Talks? ... "trying to add taxpayer financing of abortions to the bill to combat the Coronavirus." We reached out to Pelosi's office for ...
      Did 'Nancy and the Dems' Try to 'Slip Taxpayer-Funded ...
      Search domain www.truthorfiction.com/abortion-coronavirus-bill/https://www.truthorfiction.com/abortion-coronavirus-bill/
      But another top result for "abortion coronavirus bill" was a post on Reddit's r/politics, featuring a title with inverse claims: Republicans Are Sneaking Abortion Restrictions into the Coronavirus Bill. Anti-choice lawmakers are stalling emergency legislation. from politics.
      Report: Pelosi Proposed Taxpayer Funding of Abortion in ...
      Search domain www.breitbart.com/politics/2020/03/12/white-house-report-nancy-pelosi-pressed-to-include-taxpayer-funding-of-abortion-in-coronavirus-stimulus/https://www.breitbart.com/politics/2020/03/12/white-house-report-nancy-pelosi-pressed-to-include-taxpayer-funding-of-abortion-in-coronavirus-stimulus/
      Mar 12, 2020White House Report: Nancy Pelosi Pressed to Include Taxpayer Funding of Abortion in Coronavirus Stimulus Evan Vucci / Associated Press Dr. Susan Berry ... Speaker Pelosi says lawmakers should "save it for another day" if they have complaints about the coronavirus response bill: "We don't need 48 hours.
      Trump Stops Pelosi From Putting Abortion Funding in Anti ...
      Search domain www.lifenews.com/2020/03/13/trump-stops-pelosi-from-putting-abortion-funding-in-anti-coronavirus-bill-house-to-pass-clean-measure/https://www.lifenews.com/2020/03/13/trump-stops-pelosi-from-putting-abortion-funding-in-anti-coronavirus-bill-house-to-pass-clean-measure/
      As LifeNews reported, Speaker Nancy Pelosi is so dedicated to promoting abortion and forcing Americans to fund killing babies in abortion that she has been caught trying to add taxpayer financing of abortions to the bill to combat the Coronavirus and provide economic stimulus to the nation as it deals with the COVD-19 outbreak. Pelosi came under heavy criticism from pro-life advocates, from ...
      Backlash After Abortion Debate Appears To Hold Up Talks On ...
      Search domain www.newsweek.com/abortion-debate-coronavirus-package-response-1492218https://www.newsweek.com/abortion-debate-coronavirus-package-response-1492218
      Pro-abortion advocacy groups have expressed outrage after the abortion debate reportedly became a sticking point in negotiations to strike a deal on a bipartisan coronavirus response package that ...
      Speaker Nancy Pelosi Caught Trying to Include Abortion ...
      Search domain www.lifenews.com/2020/03/12/speaker-nancy-pelosi-caught-trying-to-include-abortion-funding-in-bill-to-combat-coronavirus/https://www.lifenews.com/2020/03/12/speaker-nancy-pelosi-caught-trying-to-include-abortion-funding-in-bill-to-combat-coronavirus/
      Speaker Nancy Pelosi is so dedicated to promoting abortion and forcing Americans to fund killing babies in abortion that she has been caught trying to add taxpayer financing of abortions to the bill to combat the Coronavirus and provide economic stimulus to the nation as it deals with the COVD-19 outbreak.
      No, Pelosi wasn't caught trying to add abortion funding ...
      Search domain www.politifact.com/factchecks/2020/mar/16/blog-posting/no-pelosi-wasnt-caught-trying-add-abortion-funding/https://www.politifact.com/factchecks/2020/mar/16/blog-posting/no-pelosi-wasnt-caught-trying-add-abortion-funding/
      The U.S. House passed a measure that provides federal funds to people affected by the coronavirus. There's no evidence Pelosi added or tried to add abortion funding to the bill. The bill covers ...
      GOP uses emergency bill for coronavirus testing to fight ...
      Search domain americanindependent.com/gop-coronavirus-bill-abortion-hyde-amendment-donald-trump-republicans-congress/https://americanindependent.com/gop-coronavirus-bill-abortion-hyde-amendment-donald-trump-republicans-congress/
      And in an apparent effort to build opposition to the bill, Republicans, including first son Donald Trump Jr., are claiming the $1 billion in funding the Democratic bill would make available for coronavirus testing would actually be an "abortion slush fund."Multiple" unnamed White House officials spoke to the right-wing Daily Caller to falsely claim that, "Under the guise of protecting people ...
      MSNBC's Joy Reid hits Dems for including abortion in ...
      Search domain www.foxnews.com/media/msnbc-joy-reid-abortion-coronavirushttps://www.foxnews.com/media/msnbc-joy-reid-abortion-coronavirus
      MSNBC host Joy Reid appeared bewildered over reports that the proposed emergency spending bill from House Democrats to combat the coronavirus outbreak was halted over a dispute involving "abortion ...
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      [Reply ]

        Re: Both political parties do this it's also on Snopes but no Dems would return calls...too embarrassed no doubt
        Posted on: 2020-03-23 09:25:57   By: Anonymous
         
        Snopes is for dopes.

        Do you trust google to give you the truth too?

        [Reply ]

          Re: Both political parties do this it's also on Snopes but no Dems would return calls...too embarrassed no doubt
          Posted on: 2020-03-23 09:56:09   By: Anonymous
           
          Really! The only place to get the truth is from Trump.

          MAGA! MAGA! MAGA!

          [Reply ]

            Re: Both political parties do this it's also on Snopes but no Dems would return calls...too embarrassed no doubt
            Posted on: 2020-03-23 11:32:35   By: Anonymous
             
            Sell your vacation home, market going lower!

            [Reply ]

              Re: Both political parties do this it's also on Snopes but no Dems would return calls...too embarrassed no doubt
              Posted on: 2020-03-23 13:37:59   By: Anonymous
               
              Trump administration is like DDT it was good until proven toxic. Meh 😕 we just gonna dub Donald John Trump DDT from here on.

              [Reply ]

            Re: Both political parties do this it's also on Snopes but no Dems would return calls...too embarrassed no doubt
            Posted on: 2020-03-24 12:06:36   By: Anonymous
             
            I’m not real sure of anyTrumps capabilities except one that I’m absolutely positive about. He totally incapable of telling the truth.

            [Reply ]

No Subject
Posted on: 2020-03-23 11:41:50   By: Anonymous
 
The spread of the coronavirus is accelerating, the World Health Organization (WHO) has said, with more than 300,000 cases now recorded and infections reported from nearly every country worldwide.

It took 67 days from the first reported case to reach the first 100,000 cases of Covid-19, but it took only 11 days for the second 100,000 cases, and just four days for the third 100,000 cases, WHO director general Tedros Adhanom Ghebreyesus, said.

Speaking in an online briefing to journalists he said:

But we are not prisoners to statistics. We’re not helpless bystanders. We can change the trajectory of this pandemic.

He called for global political commitment to change the trajectory of the pandemic, urging countries to take both defensive and attacking measures.

Asking people to stay at home and other social distancing measures are an important way of slowing down the spread of the virus and buying time, but they are defensive measures.

To win we need to attack the virus with aggressive and targeted tactics - testing every suspect case, isolating and caring for every confirmed cases and tracing and quarantining every close contact.”

[Reply ]

    Re:
    Posted on: 2020-03-23 22:53:45   By: Anonymous
     
    Your Supreme Leader is now saying he thinks all businesses should go ahead and open. This is in direct conflict with his own medical experts’ opinion.
    They didn’t even want to stand next to him as he was saying it.
    Trump doesn’t care if you die. He cares about the stock market and his own interests.
    Anyone still supporting him deserves all the misery they’re about the experience.

    [Reply ]

      Re:
      Posted on: 2020-03-24 09:17:12   By: Anonymous
       
      FU*K YOU IDIOT

      [Reply ]

        Re:
        Posted on: 2020-03-24 17:53:25   By: Anonymous
         
        That the best you got? 😂

        [Reply ]


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