(Reuters) – The Federal Reserve moved quickly and broadly to address broad based selling of Treasury securities and other assets that caused notable dislocations in markets, a senior New York Fed official said on Wednesday.
The Fed’s purchases of Treasury securities and its commitment to do more if necessary, along with the introduction of several emergency lending facilities, helped to keep money flowing through key markets, said Lorie Logan, an executive vice president at the New York Fed and the manager of the System Open Market Account (SOMA), during a panel organized by the Securities and Exchange Commission.
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