23 March 2020 – Began purchase of government bonds by the central bank

This item is sourced from COVID-19 Policy Watch co-ordinated by Policy. We are in the process of gathering further information and aligning taxonomies for these items.

Type of Intervention: Financial markets and monetary policy
Sectors Involved:
Level of Jurisdiction: Federal
Lead People/Agency:

Overview: The Federal Reserve began a large scale asset purchase program, commonly known as quantitative easing.

The Federal Reserve will purchase up to $1 trillion worth of Treasury securities and $400 billion of mortgage-backed securities. The measure is intended to foster maximum employment and price stability.

The first tranche of $500 billion of Treasury securities and $200 million of mortgage-backed securities was announced on 15 March 2020. A second tranche of $500 billion of Treasury securities and $200 million was announced on 23 March 2020.
Full details here: https://www.federalreserve.gov/newsevents/pressreleases/monetary20200315a.htm