business

BOJ set to hold fire, extend fund programs to ease pandemic strain

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By Leika Kihara

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© Thomson Reuters 2020.

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The Federal Reserve on Wednesday vowed to keep funneling cash into markets until the U.S. recovery is secure, while the European Central Bank last week ramped up stimulus to lift the currency bloc out of recession.

The BOJ hopes its fund-aid program, deployed in March through May to deal with the immediate hit from COVID-19, will be enough to underpin a recovery.

The package includes increased purchases of corporate debt and a lending scheme to channel money via banks to small firms.

"Funneling and channeling" torrents of the suffering public's money into companies and financial institutions flows onward. While giving the public back a trickle involves endless discussion and debate by politicians. The public truly has no voice and "representatives" in name only.

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The Federal Reserve on Wednesday vowed to keep funneling cash into markets

The Fed does no such thing. It marks up the Fed accounts of the commercial banks in exchange for the bonds and other assets it buys from them. Those who "funnel cash" into the markets are investors.

Come on, Reuters, let's get it right.

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