When the coronavirus brought the world economy to a halt in March, it fell to the U.S. Federal Reserve to keep the wheels of finance turning for businesses across America.
And when funds stopped flowing to many banks and companies outside America’s borders—from Japanese lenders making bets on U.S. corporate debt to Singapore traders needing U.S. dollars to pay for imports – the U.S. central bank stepped in again.
The full article is available at https://www.wsj.com/articles/fed-federal-reserve-jerome-powell-covid-coronavirus-dollar-lending-economy-foreign-currency-11596228151