Covid Supercharges Federal Reserve as Backup Lender to the World

When the coronavirus brought the earth economy to a halt in March, it fell to the U.S. Federal Reserve to maintain the wheels of finance turning for businesses throughout The usa.

And when money stopped flowing to lots of financial institutions and businesses outdoors America’s borders—from Japanese lenders earning bets on U.S. company debt to Singapore traders needing U.S. pounds to spend for imports—the U.S. central bank stepped in again.