London Daily

Focus on the big picture.
Tuesday, Jun 30, 2026

US: Financing programs for businesses hit by the coronavirus could amount to $4 trillion, Mnuchin says

US: Financing programs for businesses hit by the coronavirus could amount to $4 trillion, Mnuchin says

The Federal Reserve and Treasury are working on financing programs that could be worth $4 trillion, Treasury Secretary Steven Mnuchin said Sunday. Those liquidity efforts already have begun in the shape of short-term credit facilities for financial institutions and businesses.
Financing programs to help the U.S. economy pull out of the coronavirus crisis could be worth $4 trillion, Treasury Secretary Steven Mnuchin said Sunday.

Part of a bipartisan stimulus effort will include joint efforts between the Treasury and Federal Reserve to get liquidity to businesses that need it, Mnuchin told Fox News Sunday.

The Fed already has launched a variety of programs to keep money flowing through the system, targeting financing for banks and businesses and even moving into municipal bonds, which the central bank will purchase in exchange for financing to banks and other eligible financial institutions.

Some of those programs work through special powers the Fed has been granted and are backstopped with Treasury funding that the Fed can use as leverage to provide even greater funding. For instance, Treasury said it would provide a $10 billion guarantee for short-term business funding that Mnuchin said last week could be used as a backstop for $1 trillion in funding.

In the Sunday interview, Mnuchin said the Fed financing will be targeted across a swath of impacted businesses.

“When this started, this was a bit unique to the airline industry since we had shut down most of airline travel,” he said. “This liquidity facility is a broad-based liquidity facility working with the Fed.”

“We can lever up to $4 trillion to help everything from small business to big business get through the next 90 to 120 days as we win this war,” he added

The liquidity efforts come along with fiscal help that could be worth $2 trillion, according to statements from Mnuchin and Larry Kudlow, the National Economic Council director.
Newsletter

Related Articles

0:00
0:00
Close
Welsh Government Unveils New Agricultural Support Plan Focused on Sustainability and Rural Growth
UK Teacher Recruitment Shortfalls Continue in Science and STEM Subjects
Police Scotland Expands Cybercrime Investigations Amid Rising Digital Fraud
UK Universities Warn of Risk to International Student Numbers Amid Visa Changes
UK Defence Ministry Pivots Toward Greater Domestic Military Procurement
UK Launches National Rail Review After Repeated Service Disruptions
Northern Ireland Assembly Debates Long-Term Funding Settlement for Public Services
UK Accelerates Approval of North Sea Offshore Wind Projects to Expand Energy Capacity
UK Retail Sales Fall as Households Cut Discretionary Spending in June
UK Expands Border Intelligence Cooperation with France and Belgium to Target Smuggling Networks
Scottish Government Faces Pressure Over Delays in Major Infrastructure and Transport Projects
UK Launches Multi-Billion-Pound Artificial Intelligence Infrastructure Investment Fund
National Health Service Warns of Continued Emergency Department Strain Across England
Bank of England Signals Interest Rate Hold as Wage Growth Keeps Inflation Elevated
UK Sets Emergency Fiscal Strategy as Inflation Pressures and Weak Manufacturing Growth Persist
UK Launches New Measures to Improve Safety Standards in Night-Time Venues
UK Tightens Import Rules for Low-Value Parcels to Support Domestic Retailers
UK Launches £85 Million Obesity Care Programme Targeting Early Intervention Projects
UK Commits Up to $26 Million to Ebola Response in Democratic Republic of Congo
Security Industry Authority Flags Safety Failures in Night-Time Economy Inspections
Cambridge South Railway Station Opens After £250 Million Investment
UK Moves to Close Import Duty Loophole for Small Parcels by 2028
UK Invests £85 Million in Projects to Transform Obesity Care
Berkeley Group Warns London Housebuilding Falling Far Short of Demand
UK Council Tax Arrears Rise to £9.3 Billion Amid Ongoing Household Financial Strain
Markets Watch Political Transition as Andy Burnham Emerges as Labour Leadership Frontrunner
Extreme Heat Raises Long-Term Risks for UK Inflation and Productivity, Analysts Warn
UK Health Alerts Extended as Record June Heatwave Grips England
UK Parliament Faces High-Stakes Week of Spending, Security and Industrial Legislation
UK Repeals Vagrancy Act Ending Criminalisation of Rough Sleeping in England and Wales
GB News Pundit Charged With Fraud Over Alleged Conduct as Former Labour Adviser
Reform UK Gains Parliamentary Visibility in First Senedd Opposition Appearance
Metropolitan Police Arrest Man on Suspicion of Attempted Murder After London Car Incident
Ocado Chief Executive Tim Steiner Faces Scrutiny Over £100 Million Remuneration Package
British Chambers of Commerce Downgrades UK Growth Outlook to 0.9 Percent for 2026
Nottingham University Hospitals Maternity Failings Trigger Renewed Calls for Public Inquiry
Severe Heatwave Disrupts UK Transport Networks and Strains Public Services Across England
Labour Leadership Transition Raises Prospect of Andy Burnham Becoming UK Prime Minister
UK Government Confirms Further Medicine Price Concessions for Community Pharmacies in June
British Chambers of Commerce Calls for Public Procurement Reform to Boost Regional Growth
Thousands Mark Armed Forces Day Across the United Kingdom With National Parades and Flypasts
Man Arrested in Ealing on Suspicion of Attempted Murder After Vehicle Ramming Incident Injures Five
Cambridge South Station Opens With £250 Million Investment to Strengthen Life Sciences Corridor
UK Heat-Health Alerts Extended Across England as High Temperatures Persist
Thames Water and Energy Operators Warn of Peak Demand Risks During UK Heatwave
Government Conference Highlights Push for Evidence-Led Policy Across UK Public Sector
Insolvency Service Reports Improved Confidence in UK Insolvency System
Security Industry Authority Finds Widespread Safety Failures in UK Night-Time Economy
Nigel Farage Expands Anti-WHO Campaign Into United States With New Lobbying Structure
Home Secretary Seema Mahmood Unveils New Safe Routes Plan for Asylum Seekers
×