Business this week

In an unprecedented move the Federal Reserve said it would buy corporate bonds, including new issues and the riskiest investment-grade debt, action that it shied away from during the financial crisis a decade ago. The central bank is using a subsidiary of BlackRock to manage the investments. It is also buying government debt (unlimited quantitative easing), reviving a facility that enables it to absorb securities backed by student, car and credit-card loans, and has pledged to help small businesses. See article.