Fed will make up to $4 trillion in loans to businesses to rescue the U.S. economy, Mnuchin says
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(Worthy News) – Treasury Secretary Steven Mnuchin said Sunday that the Federal Reserve will play a key role in lending funds to businesses hurt by the coronavirus pandemic.
“Working with the Federal Reserve — we’ll have up to $4 trillion of liquidity that we can use to support the economy,” Mnuchin told Fox News on Sunday.
The Treasury secretary said the plan is broad-based to help small and large businesses “get through the next 90 to 120 days,” he said. [ Source: MarketWatch (Read More…) ]
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