Tag Archives: COVID-19

News Release: Fed Must Set Priorities, Impose Conditions, Ensure Transparency for Coronavirus Funding

Absent major changes, the Federal Reserve’s multi-trillion-dollar funding programs will reward corporate insiders and financial speculators, without guaranteeing desperately needed help for those hardest-hit by the coronavirus crisis. The Fed needs to set the right priorities for this credit and impose conditions that ensure the benefits of this extraordinary assistance go to those who need it most.

Comment Letter: Comments on Federal Reserve Emergency Facilities

Together, these facilities could deploy up to $2.3 trillion in new credit to the economy during the pandemic crisis period. Without major changes these facilities will not be effective in getting assistance to those most impacted by the crisis, and disclosure and transparency regarding specific borrowers and loan terms is lacking. Our comment provides specific recommendations to address these issues.