Personal Finance: The Federal Reserve and the Economy

I was researching online about The Federal Reserve and the Economy of 2020and the first thing I found was this:

The Federal Reserve, headed by Jerome Powell, is projected to have purchased $3.5 trillion in government securities by the end of 2020 with newly created dollars, one of many tools it is using to help prop up the ailing economy during the COVID-19 pandemic.

If I were to rephrase that statement in my words I would say that this guy Jerome Powell bought this company and gave them $3.5 trillion so they can make new money design and other tools to provide us with things that are needed during this time of the year when COVID-19 rolled around.

In my opinion, what he did could help and benefit everyone who’s struggling with this virus. Basically the FED is doing everything they can to make more cash to ‘cushion the fall’. The Federal Reserve is really throwing out all the stops in an effort to contain a health crisis from becoming an economic or financial crisis. The Fed’s actions have made a difference, preventing the financial pipes from clogging up, though credit is still harder to come by than it was before the crisis. The challenge now is whether the central bank can extend its helping hand to ordinary businesses whose customers have suddenly disappeared. A lot of businesses have been closed when COVID-19 started. But so far, I think that things are going pretty well and that everyone’s been handling this situation quite well.

THANKS for reading this essay. i hope that this gives you a bit of info about our economy as of now.