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 Powell says Fed actions unlocked $2 trillion to support economy

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Powell says Fed actions unlocked $2 trillion to support economy Vide
PostSubject: Powell says Fed actions unlocked $2 trillion to support economy    Powell says Fed actions unlocked $2 trillion to support economy Icon_minitimeMon Nov 30, 2020 8:45 pm
Federal Reserve Chairman Jerome Powell said the central bank’s actions to backstop a range of credit markets after the coronavirus convulsed Wall Street this past spring had unlocked almost $2 trillion to support businesses, cities and states.
In testimony prepared for delivery at a congressional hearing Tuesday, Powell said the Fed’s unprecedented steps to stabilize financial markets had largely succeeded in restoring the flow of credit from private lenders.
Treasury Secretary Steven Mnuchin on Nov. 19 told Powell that he would not grant extensions for five lending programs that have backstopped markets for corporate and municipal debt and to purchase loans made to small businesses and nonprofits when those programs expire on Dec. 31.

Powell says Fed actions unlocked $2 trillion to support economy MW-IG553_powell_20200514171248_ZQ

https://www.marketwatch.com/story/powell-says-fed-actions-unlocked-2-trillion-to-support-economy-2020-11-30?mod=MW_article_top_stories
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