Market News

Fed will make up to $4 trillion in loans to businesses to rescue the U.S. economy, Mnuchin says


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. News

Steven Mnuchin at a G-7 finance ministers and central bank governors meeting in Whistler, British Columbia, in 2018.

Mnuchin said he thought the bill would be finished Sunday and ready for a vote on the Senate floor on Monday.

The bill would also include:

• Small-business…


Senior Living, Nursing Homes and Coronavirus: 10 Things to Know About the Threat They Face

Previous article

Sen. Rand Paul says he has tested positive for COVID-19

Next article

You may also like

Leave a Reply

Notify of

More in Market News