Four Democratic senators, including Sherrod Brown of Cleveland, urged the Federal Reserve and the U.S. Treasury to expand emergency lending programs for businesses and states and municipalities to provide support while Congress debates additional fiscal stimulus.
In a Nov. 5 letter to Fed chair Jerome Powell and Treasury Secretary Steven Mnuchin obtained by Bloomberg, the senators asked that the programs be extended beyond their Dec. 31 deadlines, and that changes be made to make them more broadly available. In addition to Brown, the letter was signed by Minority Leader Chuck Schumer of New York, Mark Warner of Virginia and Elizabeth Warren of Massachusetts.
"Absent additional action, these facilities will fail to reach their full potential to support a robust economic recovery," the senators wrote.
To read the full article, click here.