The US Federal reserve will release up to $ 4 trillion in liquidity to support the economy during the coronavirus period as part of a bill being discussed in Congress, US Treasury Secretary Steven Mnuchin said.
“This is a significant package in cooperation with the Federal Reserve – we will have up to $ 4 trillion in liquidity that we can use to support the economy,” Mnuchin told Fox News, listing measures to support the economy.
“Now that we have closed the largest sectors of the economy, this liquidity Fund will be based on broad principles as part of working with the fed,” Mnuchin said. “We can channel up to $ 4 trillion to help everyone from small businesses to big businesses last 90 to 120 days,” he added.
Congress is debating the third bill to combat coronavirus, which will include more than $ 1 trillion in appropriations. The money will be used, among other things, for direct payments to American taxpayers, for guarantees to businesses in case of refusal to dismiss employees, and for supporting certain sectors of the economy through loans.