Wall Street climbs after Fed stuns markets again with aid
April 10, 2020
NEW YORK (AP) — Stocks are rising on Wall Street Thursday after the Federal Reserve launched its latest unprecedented effort to support the economy through the coronavirus outbreak. The gains put the S&P 500 on track for its best week since 1974.
The central bank announced programs to provide up to $2.3 trillion in loans to households, local governments and small and large businesses as the country tips into what economists say may be the worst recession in decades. It's the latest massive move by the Fed, which has rushed to ensure cash gets to parts of the economy that need it after ma...