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3/26, 12:10 PM (Source: TeleTrader)
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Powell: Only Treasury backstop can limit Fed's lending

United States Federal Reserve Chair Jerome Powell told NBC's Today program on Thursday that the only limit to the central bank's lending to support the economy amid the coronavirus crisis can be "how much backstop" from the Treasury Department it can get.

Still, Powell stressed that the Fed has the ability to "aggressively" step in to tackle the impact of the coronavirus as $1 of Treasury backstop is enough to support $10 worth of loans.

Breaking the News / NP