The Federal Reserve has pledged to inject as much as $1.5 trillion into U.S. markets, reports OilPrice. The move is in a continued response to the panic sparked by the coronavirus pandemic.
“These changes are being made to address highly unusual disruptions in Treasury financing markets associated with the coronavirus outbreak,” said the Federal Reserve in a statement. Plans may still be adjusted in the future “as needed to foster smooth Treasury market functioning,” reports OilPrice.
Despite the announcement, oil prices failed to see a boost, reports OilPrice. The future of the global oil market remains uncertain as the coronavirus and the oil price war continue to wreak havoc.
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