The US central bank system is pumping $ 2.3 trillion (over $ 2.1 trillion) in the form of loans in the U.S. economy, the Federal Reserve (Fed) announced on Thursday.
"This funding should support households and businesses of all sizes and strengthen the ability of the state and local governments to provide critical services during this pandemic," the Fed said in a statement on the website.
"It must be our country's top priority to deal with the health crisis, care for the sick and prevent the spread of the virus as much as possible," said Fed Chairman Jerome Powell.
According to him, the central bank needs as much financial relief and stability as possible at a time when economic activities are severely limited. "Our actions today will help ensure that the eventual recovery will be as strong as possible."
Earlier, the Fed already decided to cut interest rates to almost 0 percent in an attempt to boost the economy.
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The coronavirus in short
- The coronavirus mainly spreads through sneezes and cough drops. Most patients have mild (flu-like) complaints. These are the symptoms.
- Read here what rules there are to contain the outbreak.
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- In our corona guide we give you an overview of all reliable information and what you should and can do now that you are at home a lot.