on Monday. The central bank said the program will run in the "amounts needed to support smooth market functioning and effective transmission of monetary policy to broader financial conditions and the economy."
"The Fed has committed to buying debt, not just government and residential mortgage backed securities but now for the first time commercial mortgages ," Ray Attrill, head of foreign exchange strategy at National Australia Bank, wrote in a note. "Unlike during the post when there were quantitative limits on how much the Fed would buy each month, purchase amounts are now unlimited," Attrill said.as the death toll from the virus rises throughout Europe. Both the region and the U.S. have seen a dramatic increase in the number of infected in recent weeks.