States need money. The Fed has it. Politics might be an obstacle

Jim Saksa  |  June 26, 2020

By Jim Saksa, includes “… ‘Would the Fed consider making changes to the municipal liquidity facility that make it more like a grant and provide that would be able then to provide more assistance to local governments?’ … ‘No. We can’t make grants,’ the Fed chairman replied. ‘That’s one thing we can’t do. We can only lend — the law is extremely clear on that.’ … The line between a loan and a grant isn’t as black and white as Powell suggests. …” 

Read the full article on: Roll Call

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