Featured Stories World News Commentary Money Watch Multimedia Prison Planet U.S. News Science And Technology

Fed will make up to $4 trillion in loans to businesses to rescue the U.S. economy, Mnuchin says

  • Print Alex Jones Show podcast Prison Planet TV Infowars store

Market Watch
March 23, 2020

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.

“Those are broad-based lending programs. … We can leverage our equity working with the Federal Reserve,” he said.

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.

Mnuchin said he thought the bill would be finished Sunday and ready for a vote on the Senate floor on Monday.

The bill would also include:

• Small-business retention loans aimed at helping companies keep workers on their payrolls. This will cover about half the workforce, Mnuchin said. Payments will include two weeks’ worth of cash flow and some overhead. The loans will be forgiven if workers are not laid off.

  • A d v e r t i s e m e n t

• Checks for Americans. The average check for a family of four will be $3,000, the Treasury secretary said.

• Enhanced unemployment insurance for people who are laid off due to the pandemic.

Some Fed watchers expressed caution about the $4 trillion estimate.

Read more

This article was posted: Monday, March 23, 2020 at 5:28 am

Infowars.com Videos:

Comment on this article

The Truth About the 'ISIS Bride' See the rest on the Alex Jones YouTube channel.

Jussie Smollett is a Complete Idiot See the rest on the Alex Jones YouTube channel.

https://www.youtube.com/embed/Rfi2O9yTCKI https://www.youtube.com/embed/NFYfqkrshp4

© 2020 PrisonPlanet.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.