About: http://data.cimple.eu/news-article/bd11361b4c17505ae9bd2f4ce8b340d144c4bd338d70bf2bec216555

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rdf:type	schema:NewsArticle
schema:articleBody	The US Federal Reserve said Monday it has extended several pandemic emergency lending programs for three months through March 31, with approval from the Treasury Department. The announcement came after Treasury Secretary Steven Mnuchin last week said some of the programs should be allowed to lapse as planned on December 31 -- but he did approve an extension of some aimed at supporting financial markets. The Fed protested the decision in a rare public statement, saying the programs provided an important "backstop for our still-strained and vulnerable economy." Mnuchin's decision to pull back $455 billion in unused funds from the Fed, even as Covid-19 cases are spiking, drew intense criticism and accusations he was trying to sabotage President-elect Joe Biden's efforts to support the economy. In the announcement, the central bank said that by supporting "critical short-term funding markets, these facilities are supporting market functioning and enhancing the flow of credit to the economy." And having the funds available if needed will "provide certainty that the facilities will continue to be available through the first quarter of 2021 to help the economy recover from the COVID-19 pandemic." The programs include the Commercial Paper Funding Facility and the Primary Dealer Credit Facility, through which the Fed buys corporate debt and provides cash to the companies. However, the extension does not include the Main Street Lending Program that helps small- and medium-sized businesses that have been hard hit by the pandemic, due to shutdowns, restrictions and changes in consumer behavior. hs/bgs
schema:headline	Fed extends emergency lending programs through March 31
schema:mentions	Steven Mnuchin 2009 flu pandemic United States Department of the Treasury Federal Reserve Joe Biden Severe acute respiratory syndrome coronavirus 2 President of the United States Coronavirus disease 2019 Primary Dealer Credit Facility Commercial Paper Funding Facility Consumer behaviour
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-11-30 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	92 (xsd:integer)

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