FILE - In this Tuesday, March 3, 2020 file photo, Federal Reserve Chair Jerome Powell pauses during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington. In a series of sweeping steps, the U.S. Federal Reserve will lend to small and large businesses and local governments as well as extend its bond buying programs.  The announcement Monday, March 23 is part of the Fed's ongoing efforts to support the flow of credit through an economy ravaged by the viral outbreak.  (AP Photo/Jacquelyn Martin, File)
Federal Reserve chairman Jerome Powell. The Fed made an open-ended commitment to buy bonds "in the amounts needed to support smooth market functioning" on Monday.  AP Photo

Fed announces open-ended asset-buying programme




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