This translation has been automatically generated and has not been verified for accuracy.U.S. stock index futures rose on Thursday, along with yields on Treasuries after data showed jobless claims surged another 6.6 million last week and the Federal Reserve rolled out a broad $2.3 trillion effort to bolster local governments and small and mid-sized businesses.
In announcing what may prove its most groundbreaking step in the crisis fight, Fed chair Jerome Powell said the Fed’s role had now broadened beyond its usual focus in keeping markets “liquid” and functioning, to helping the United States get the economic and financial space it needs to fix a dire health emergency.
“It’s not going to resolve all the issues for municipal governments, but it’s something, and at this point in time, something’s better than nothing.”“There’s a sink, a dishwasher and maybe a washing machine being thrown by the Fed at this point. This latest effort seems a little more focused on small business, expanding lending to main street and the paycheck protection program.”
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