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Fed statement supports emergency lending facilities to continue operating
Federal Reserve statement supports emergency lending facilities to continue operating following earlier comments from the US Treasury Secretary $DXY $SPX
— DailyFX Team Live (@DailyFXTeam) November 19, 2020
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*FED PREFERS THAT ALL EMERGENCY FACILITIES CONTINUE
— zerohedge (@zerohedge) November 19, 2020
*FED ISSUES STATEMENT AFTER MNUCHIN LETTER ON FACILITIES
*FED: FACILITIES SERVE IMPORTANT ROLE AS BACKSTOP FOR ECONOMY
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Fed Furious After Mnuchin Refuses To Extend Some Bailout Programs
That didn't take long. The Fed, as we suspected, is furious, issuing a statement: "The Federal Reserve would prefer that the full suite of emergency facilities established during the coronavirus pandemic continue to serve their important role as a backstop for our still-strained and vulnerable economy." For the Fed to publicly respond so quickly is quite a change of regime for the typically stoic and 'independent' entity. * * * Despite Fed Chair Powell's desire for them to remain in place, Treasury Secretary Steven Mnuchin has declined to extend several emergency loan programs established jointly with the Fed that ... (full story)
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