The Fed will make up to $4 trillion in loans to businesses to rescue economy, Mnuchin says
From marketwatch.com
Treasury Secretary Steven Mnuchin said Sunday that the Federal Reserve will play a key role in lending funds to businesses hurt by the coronavirus pandemic. “Working with the Federal Reserve — we’ll have up to $4 trillion of liquidity that we can use to support the economy,” Mnuchin told Fox News on Sunday. “Those are broad-based lending programs. ... We can leverage our equity working with the Federal Reserve,” he said. The Treasury secretary said the plan is broad-based to help small and large businesses “get through the next 90 to 120 days,” he said.Mnuchin said he thought the bill would be finished Sunday and ...
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