Economics
Congress May Allow Fed to Purchase Longer-Term Corporate Debt
- Toomey says ‘very large credit facility’ will be available
- Goal to help businesses weather coronavirus economic fallout
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Congress is likely to pass legislation Monday clearing the way for more emergency action from the Federal Reserve, following already unprecedented steps from the central bank to keep credit markets liquid.
Though details were unclear, lawmakers and Trump adminstration officials on Sunday signaled the package would give the Fed approval to expand its purchases of corporate bonds.