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About: http://data.cimple.eu/news-article/a5a2fb38c9abb88db61cbf3a1b61a3f1ea9481a410fc5c3f041d836c Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	The US Federal Reserve on Tuesday unveiled a new credit facility to help households and business stay afloat as the coronavirus pandemic threatens to undermine the world's largest economy. The program, authorized by the US Treasury, is aimed at commercial paper, which finances things like auto loans and home mortgages, a market that "has been under considerable strain in recent days as businesses and households face greater uncertainty in light of the coronavirus outbreak." "By ensuring the smooth functioning of this market, particularly in times of strain, the Federal Reserve is providing credit that will support families, businesses, and jobs across the economy," the Fed said in a statement. That in turn "will enhance the ability of businesses to maintain employment and investment as the nation deals with the coronavirus outbreak." It is the latest in a series of moves the Fed has taken over the past two weeks to ensure the financial system has enough cash on hand to keep the economy from freezing up, including slashing the benchmark lending rate to zero, injecting $1 trillion into financial markets this week and $1.5 trillion last week. Treasury will provide $10 billion as a backstop, allowing the Fed to purchase commercial paper from US firms or US subsidiaries of foreign companies over the coming year. "By eliminating much of the risk that eligible issuers will not be able to repay investors by rolling over their maturing commercial paper obligations, this facility should encourage investors to once again engage in term lending in the commercial paper market," the Fed said. hs/cs
schema:headline	US Fed announces credit facility to help businesses, households
schema:mentions	United States Department of the Treasury Federal Reserve Pandemic Severe acute respiratory syndrome coronavirus 2 Commercial paper
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-03-17 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	92 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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