Why Congress is suddenly fighting about the Federal Reserve.
Two weeks ago, I don’t think anybody would have guessed that one of the last major conflicts holding up a deal over coronavirus aid would have somehow centered on a handful of emergency lending programs that have barely been used since the Federal Reserve christened them this year. Yet here weare. Republicans, led by Sen. Pat Toomey of Pennsylvania, have launched a last-minute bid to permanently shut down some of the credit facilities that the central bank launched this spring in response to the pandemic—specifically, ones that allowed it to buy corporate bonds, and lend to state and loca...
Source: slate.com