Economics
Fed Sidesteps Congress’s Bickering With Sweeping Rescue Plan
- Fed moves vault beyond liquidity measures into credit policy
- Few strings attached for new Fed corporate lending programs
This article is for subscribers only.
The Federal Reserve ventured into political territory Monday by offering to directly finance U.S. companies, jumping ahead of Congress -- which is still arguing over similar assistance.
Unveiling unprecedented measures to shelter the economy from the coronavirus, the Fed acted after the failure so far by U.S. lawmakers to advance a $2 trillion dollar stimulus package.