Sunday at 5PM the White House scheduled a press conference to be headed by VP Pence about the coronavirus situation. It began though with a surprise announcement by President Trump of Federal Reserve action to lower interest rates to zero and to begin a new $700 monthly billion QE operation. This is the first time the Federal Reserve has ever taken a policy action on Sunday afternoon and comes on top of its $500 billion Treasury bond QE program. The Federal Reserve also announced that it was lowering the reserve limits for banks to zero.
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