Fed extends several emergency lending programs to end of year from Sept. 30

The Federal Reserve on Tuesday said its board of governors had decided to extend several emergency loan programs until the end of the year. The programs had been set to expire on Sept. 30.

"The three-month extension will facilitate planning by potential facility participants and provide certainty that the facilities will continue to be available to help the economy recover from the COVID-19 pandemic," the Fed said in a statement. Set up to keep credit flowing in the aftermath of the market disruption in March, many of the Fed programs haven't seen a lot of interest in recent weeks.

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Fed meeting expected to leave U.S. bond-stock relationship out of whackThe Federal Reserve's whatever-it-takes approach to stave off economic calamity has kept interest rates near zero and helped drive U.S. stocks back to pre-pandemic record levels, while weakening the usual dynamic between safe-haven U.S. Treasuries and riskier equities. Why? nice The Fed can't do much more to stimulate the economy, because the virus is still raging relatively unchecked. The Fed can pump the stock market more - which seems to be their primary goal - satisfy Trump. Fed has lost its independence and looks more like PBOC now.
Source: Reuters - 🏆 2. / 97 Read more »