<p>The U.S. Federal Reserve has said that it would buy as many Treasury and mortgage-backed securities as needed to support the coronavirus-hit financial markets.</p> <p>“Aggressive efforts must be taken across the public and private sectors to limit the losses to jobs and incomes and to promote a swift recovery once the disruptions abate,” <a href="https://www.federalreserve.gov/newsevents/pressreleases/monetary20200323b.htm">said</a> the central bank in a Monday morning statement.</p> <p>The Fed previously announced it would purchase at least $500 billion of Treasury securities and at least $200 billion of mortgage-backed securities.<br /> <br /> Both crypto and traditional financial markets appear to have reacted positively to the news. Bitcoin is currently trading at around $6,300, up around 5% in the past 24 hours. <a href="https://markets.businessinsider.com/futures/s&amp;p-500-futures">S&amp;P 500 Futures</a>, on the other hand, are up by about 2% at 2,355 in intraday.<br /> <br /> <img class="aligncenter size-large wp-image-59541" src="https://www.tbstat.com/wp/uploads/2020/03/image-48-1015x675.png" alt="" width="1015" height="675" /></p> <p>The Fed will support “the flow of credit to employers, consumers and businesses by establishing new programs that, taken together, will provide up to $300 billion in new financing.” It will be backed by $30 billion from the Treasury’s Exchange Stabilization Fund.<br /> <br /> The Fed also said it “expects to announce soon the establishment of a Main Street Business Lending Program to support lending to eligible small and medium-sized businesses, complementing efforts” by the Small Business Administration.</p>