Federal Reserve announces ‘Quantitative Easing Infinity’

On 23 March, the Federal Reserve issued a press release to announce what several influencers in the crypto space are referring to as “Quantitiative Easing Infinity”. The notification stated that the Federal Open Market Committee (FOMC) will purchase Treasury securities and agency mortgage-backed securities in the amounts needed to support smooth market functioning and effective transmission of monetary policy to broader financial conditions and the economy.

Establishment of two facilities to support credit to large employers – the Primary Market Corporate Credit Facility (PMCCF) for new bond and loan issuance and the Secondary Market Corporate Credit Facility (SMCCF) to provide liquidity for outstanding corporate bonds.

Although futures for the S&P 500 surged 55.75 points (or 2.44%) in premarket trading (since the Fed made its announcement before the opening of today’s trading session), currently (as of 14:37 UTC), the S&P 500 is down 38.59 (or 1.67%) at 2,266.33.

As for Bitcoin, according to data from CryptoCompare, although it was trading below $6K before the Fed’s announcement, within 65 minutes of the Fed’s announcement, it had reached the intraday high of $6,513, and currently (14:39 UTC) it trades at $6,268, up 3.57% in th past 24-hour period.

Tag Post :
Share This :
Share on facebook
Share on twitter
Share on linkedin
Share on google
Cult Today

Cult Today

CULT is a collective for NFT lovers. We are passionate NFT hoarders, we love minting our own collections and we are always on the lookout for collaborations. Most of our work can be found on StakeCube Marketplace

Read More

Leave a Reply

Your email address will not be published.

Fill out this field
Fill out this field
Please enter a valid email address.
You need to agree with the terms to proceed