Report: Treasury fund to ease virus crisis off to slow start
Posted on AllSides May 19th, 2020
From The Left
WASHINGTON (AP) — The Treasury Department and Federal Reserve have lent hardly any money under a $500 billion fund created by the economic rescue law passed in response to the coronavirus crisis, a congressional oversight panel says in a new report.
The Treasury fund is being used to guarantee new, expansive Federal Reserve lending programs to companies, states and cities that could be leveraged to reach as much as $4.5 trillion.
So far only one of the new Fed programs has started operating, a lending fund likely to be tapped...