The Federal Reserve announced a massive second wave of initiatives today to support the US economy. These include the purchase of bonds to keep borrowing costs low and the creation of programs to ensure credit flows to corporations and local and state governments.
“Aggressive efforts must be made in all public and private sectors to limit job losses and incomes and to promote a rapid recovery once the crisis is over,”
The Federal Reserve said in a statement Monday morning.
The Fed also said it “expects to announce the establishment of a Loan Program for eligible small and medium-sized businesses soon.”
Both the financial market and the crypto ecosystem seem to have reacted positively to the release. Bitcoin is currently trading at around $ 6,200, after a spike of up to $ 6,626, up about 5% in the last 24 hours. The S&P 500 Futures, on the other hand, increased by about 2% since the announcement.
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