The Federal Reserve’s asset buying is taking a summer break after surging in the spring, but that doesn’t mean the central bank has dialed back its support for markets or the economy.
The Fed’s holdings of bonds, loans and other assets reached $7 trillion in June, up from $4.2 trillion in February, reflecting multiple financial-assistance programs launched in response to the coronavirus pandemic.Economists have long used letters of the alphabet like V and U to describe economic recoveries. But the coronavirus downturn is so different from past recessions that economists are coming up with new shapes to describe the potential recovery. WSJ explains.
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