Economics
Fed’s Anti-Virus Lending Firepower Could Reach $4.5 Trillion
- Stimulus earmarks $454 bln to back more Fed emergency lending
- Fed programs seen as a bridge to sustain firms during virus
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The Federal Reserve could now have as much as $4.5 trillion to keep credit flowing and make direct loans to U.S. businesses through the massive coronavirus stimulus bill being considered by U.S. lawmakers.
The bipartisan agreement, which still needs to be passed by the Senate and House and signed into law by President Donald Trump, will include $454 billion in funds for the Treasury to backstop emergency actions by the Fed to support the U.S. economy, Senator Patrick Toomey said on Wednesday.