Check out how CNN beefed up a Fed lie that was unbelievable in and of itself.
by Mike ‘Mish’ Shedlock
The Federal Reserve announced Wednesday that it will begin winding down a program that purchased tens of billions of dollars of corporate assets to shore up the economy during the pandemic.
In a statement, the central bank said the facility was crucial to businesses during the depth of the recession. But as the economy rapidly recovers, the time to start winding it down has begun.
The program “proved vital in restoring market functioning last year, supporting the availability of credit for large employers, and bolstering employment through the Covid-19 pandemic,” the Fed said.