Fed Extends Emergency Programs Three Months to End of Year
- Move seen as a sign the U.S. economy requires ongoing support
- Extension was approved by Treasury Secretary Steven Mnuchin
The Marriner S. Eccles Federal Reserve building stands in Washington, D.C., U.S.
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The Federal Reserve extended most of its emergency lending programs by three months, through the remainder of 2020, to help an economy still struggling with the coronavirus pandemic.
“It’s a sign that more support is needed for the economy,” said Scott Brown, chief economist at Raymond James. In particular for facilities like the Main Street Lending Program, Brown said the Fed is signaling it still anticipates significant demand in the coming months.