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

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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.

http://www.marketwatch.com/Bloomberg 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…



Source marketwatch.com

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