NY Fed's Logan says emergency facilities could be reinstated quickly

  • 12/1/2020
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NEW YORK, Dec 1 (Reuters) - The emergency lending programs the Federal Reserve set up during the pandemic served as helpful backstops and could be revived quickly if needed after they expire at year end, a senior New York Federal Reserve official said on Tuesday. “From an operational perspective, we could reinstate the expiring facilities quickly if needed,” said Lorie Logan, manager of the System Open Market Account, during a virtual discussion on Tuesday organized by the Money Marketeers of New York University. Logan said the Fed also has other tools it can use to keep markets functioning smoothly, including asset purchases. (Reporting by Jonnelle Marte Editing by Chris Reese)

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