The statement, which stated that the economy faces serious disruptions, emphasized that strict measures should be taken in the public and private sectors to limit job losses and ensure rapid recovery.
The statement noted that the Fed is committed to using all of its tools to support credit flows to households and businesses, as well as maximum employment and price stability targets.
It was stated that the Fed will purchase securities based on treasury bonds and mortgages in order to ensure smooth functioning of markets and effective pass-through of the monetary policy, it is stated that securities based on commercial loans will be included in the mortgage-based securities purchases.
The statement said that the bank’s large-scale overnight and forward repo operations will continue.
It was stated that the credit flow to employees, consumers and businesses will be supported by creating new programs and new financing of nearly 300 billion dollars will be provided, and the Treasury Ministry Exchange Fund will provide 30 billion dollars of equity.
Also, the Fed’s simultaneous statement from the New York Branch announced that it will buy $ 75 billion of treasury bonds and $ 50 billion of housing loans every week.