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May 18, 2020

Fed evaluates strain on financial system

WASHINGTON (AP) — The Federal Reserve said Friday that parts of the U.S. financial system came under severe strain in March as a global pandemic was shutting down much of the economy.

It said quick action by the central bank helped alleviate many of the stresses but cautioned that further shocks to the financial system could occur depending on the course of the virus and the amount of damage it does to the U.S. economy.


 
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