The Fed in March unveiled lending programs it said could provide $2.3 trillion to the economy. So far, that has totaled just $143 billion, or 6.2% of the total firepower.
by Jeff Cox
When the coronavirus pandemic locked up capital markets and pulled the economy into recession, the Federal Reserve took aim with a $2.3 trillion bazooka to try to help. Thus far, though, the central bank has only fired off surprisingly few rounds.
In the three months since a slew of programs were announced, the Fed has loaned out just $143 billion, or a mere 6.2% of its total firepower. The most ambitious initiative, the Main Street Lending Program, has yet to make a loan, according to the most recent Fed balance sheet data, though officials expect that to change in a matter of days.