Welcome to the Jill on Money Corona virus Market update.

We are recording this at 544 Eastern Time on Monday evening and it's been a very busy day for the Federal Reserve.

Early this morning the Central Bank lived up to its moniker The Lender of Last Resort.

They announced a series of actions to help the U.S. economy during

the spread of the pandemic.

So a couple of things that may impact you is that the Fed basically said that it's going to go out

and not just by Treasury securities, not mortgage-backed securities, but also the Fed is

going to buy high quality corporate bonds.

Now this is going to make you happy if you own some corporate debt in your portfolio

because that market has fallen apart.

The other thing that the Fed is going to do is that it is going to make available a lending

facility to small and medium-sized companies, not a ton of detail on this.

They say $300 billion.

And essentially, for all intents and purposes, the Fed has just thrown the kitchen

sink at this problem and I suggest if anybody wants to understand this

To watch the 60 minute segment that aired this past Sunday night Scott Peli interviewed one of the Fed governors Neil Kashkari and he was pretty much on that

that same wavelength that you know what we're gonna do whatever it takes

essentially we've got to make sure that we don't let people go

broke and we don't let entities go broke. That's what the Fed is saying. Okay? So the Fed did that. Markets had gone limit down and then they turned around, but at the end of the day, we still didn't have a deal in Congress and as a result, we saw markets drop on the session, you know, it's a strange time when you

think a 3% drop is no big deal.

When you look at the S&P 500 and say,

so what, you know, no biggie, down 3%, down 67 points, you know, big deal, no biggie,

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