Fed to Lend Directly to Large Corporations

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Starting yesterday, the Federal Reserve of the United States (Fed) began the Primary Market Corporate Credit Facility (PMCCF), through which it will directly lend to large corporations. 
The facility, an emergency one, comes shortly after the Fed announced two weeks ago that it is buying the debt of individual companies on the open market.
Again, the announcement was made on a Monday, right at the start of the trading week. With this move, the Fed…

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