Fed's short-term corporate funding plan boosts stocks, gold, dollar
Share:
NEW YORK (Reuters) - Gold, the dollar and global equity markets rose on Tuesday after the Federal Reserve said it would buy short-term corporate debt directly from companies to help relieve credit markets under strain from the economic impact of the coronavirus epidemic.The renewal of the financial crisis-era Commercial Paper Funding Facility, first used in 2008, will provide a backstop to that market, a key funding source for a range of U.S. businesses that have seen liquidity dry up.The Fed..