Amid the COVID-19 crisis, the U.S. Federal Reserve on Thursday announced that it took additional actions to provide up to $2.3 trillion in loans to support the economy.

The Fed aims to assist households and employers of all sizes and bolster the state’s ability to deliver critical services during the coronavirus crisis, it said.

“Many of the programs we are undertaking to support the flow of credit rely on emergency lending powers that are available only in very unusual circumstances and only with the consent of the Secretary of the Treasury,” Steven Mnuchin, said Fed Chair Jerome Powell.


Read more: US Fed to provide up to $2.3T in face of pandemic