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FILE - In this Tuesday, March 3, 2020 file photo, Federal Reserve Chair Jerome Powell pauses during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington. In a series of sweeping steps, the U.S. Federal Reserve will lend to small and large businesses and local governments as well as extend its bond buying programs. The announcement Monday, March 23 is part of the Fed's ongoing efforts to support the flow of credit through an economy ravaged by the viral outbreak. (AP Photo/Jacquelyn Martin, File)

FILE - In this Tuesday, March 3, 2020 file photo, Federal Reserve Chair Jerome Powell pauses during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington. In a series of sweeping steps, the U.S. Federal Reserve will lend to small and large businesses and local governments as well as extend its bond buying programs. The announcement Monday, March 23 is part of the Fed's ongoing efforts to support the flow of credit through an econ…

March 23, 2020

Stories this photo appears in:

Fed makes strongest bid yet to protect firms and governments
March 23, 2020 6:09 p.m.

Fed makes strongest bid yet to protect firms and governments

WASHINGTON (AP) — The Federal Reserve is unleashing its boldest effort yet to protect the U.S. economy from the coronavirus by helping companies and governments pay their bills and survive a devastating crisis.