the trillion dollar fightback and other actions taken by Western banks to limit virus damage to the economy
Us in European stocks rallied on Tuesday. This was after Western governments from the White House to the Lizzy to ten Downing Street pledged trillions of dollars to help with the economic fallout from the corona virus pandemic. The trump administration alone proposed a one point two trillion dollar stimulus package to Congress. This was on top of two smaller pieces of legislation between the three plans. Americans could see among other things guaranteed paid sick leave. Funding for corona virus testing and even checks sent directly to citizens meanwhile some of the largest economies in and around Europe announced plans to prop up business and protect household. Yesterday Britain for one unveiled a three hundred and thirty billion pound package of emergency business. Loan guarantees in twenty billion pounds of fiscal support on the Central Bank Front. The Federal Reserve launched additional crisis measures to shore up financial markets showing. How seriously it's taking the situation. The US Central Bank revived a credit facility for approved dealers of government debt. That was last used during the show. Eight financial crisis earlier on Tuesday. It ramped up interventions in the repurchase market and eased some pressures corporate. America pay agreeing to buy commercial paper.