Economics
Fed Feels Heat to Pump Out More Loans, Go Past Crisis-Era Rules
- House Speaker Pelosi urges state, local government support
- Business lobbying group seeks help to avoid insolvency crisis
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The U.S. Federal Reserve is facing increasing pressure to go well beyond its crisis-era play book and dramatically boost its support for the nose-diving economy via new lending programs for businesses and state and local governments.
Proponents of the more aggressive measures argue that the Fed needs to open up the spigots to help offset a coronavirus-driven cash crunch that threatens to force firms to shut down and push state and local finances to the breaking point.