The Federal Reserve said Monday that it plans to purchase short-term debt from a wider array of cash-strapped cities and counties, responding to criticisms that even some large municipalities including Baltimore and Detroit might have struggled to take advantage of the new $500 billion fund.
The Federal Reserve said Monday that it plans to purchase short-term debt from a wider array of cash-strapped, responding to concerns that some large U.S. municipalities including Baltimore and Detroit might have struggled to take advantage of its new $500 billion fund.
pandemic. It could help push down interest rates, ease borrowing and help local governments raise revenue, perhaps sparing them from debilitating cuts to local programs or their own workforces.Cities and states brace for economic ‘reckoning,’ eyeing major cuts and fearing federal coronavirus aid isn’t enough
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