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The fed is legally barred from directly lending to businesses or households except for in an emergency where they can do virtually anything they want. Congress
by cwhiz 6y ago
The fed is legally barred from directly lending to businesses or households except for in an emergency where they can do virtually anything they want.
Congress authorizes $300 billion in direct checks to consumers. The remaining $2.7 trillion went to businesses.
The fed has separately printed several trillion dollars lending to businesses, buying corporate bonds, and other actions.
What should the stock market be at right now? Who knows. We have no way to know because we won’t allow the market to tank.
- mrep 6y ago> The remaining $2.7 trillion went to businesses. Nope (and the total bill was 2.1 trillion not 3 trillion): https://en.wikipedia.org/wiki/Coronavirus_Aid,_Relief,_and_Economic_Security_Act https://en.wikipedia.org/wiki/Coronavirus_Aid,_Relief,_and_E... > The fed has separately printed several trillion dollars lending to businesses, buying corporate bonds, and other actions. Also not even remotely true, they are predominately buying U.S. Treasury securities and Mortgage-backed securities: https://www.federalreserve.gov/releases/h41/current/h41.htm https://www.federalreserve.gov/releases/h41/current/h41.htm Got any sources to back up your claims?