
Quarterly Market Review: Q3 2020
The Fed Tosses Out a Lifeline In the third quarter of 2020, the market recovery continued unabated. Earlier this spring, the Federal Reserve made many decisions to try to address the economic impact of the COVID pandemic, most notably by lowering interest rates and establishing bond buying programs that essentially provide a government-backed guarantee for significant portions of the public bond market. With this decision, the Federal Reserve became the “buyer of last resort”