Fed's Bostic: would be prudent to keep U.S. emergency lending programs open

FILE PHOTO: President and Chief Executive Officer of the Federal Reserve Bank of Atlanta Raphael W. Bostic speaks at a European Financial Forum event in Dublin, Ireland February 13, 2019. REUTERS/Clodagh Kilcoyne

(Reuters) – Atlanta Federal Reserve Bank President Raphael Bostic said on Thursday it would be “prudent” to keep open the Fed’s emergency lending and backstop programs created to help stabilize financial markets and the broader economy.

Bostic, in an interview with Bloomberg TV, said he was “a bit surprised” by the decision by the Treasury to end some of the programs on Dec. 31.

“Given where the economy is, and there’s so much uncertainty that’s still out there, it’s prudent to keep those things open so that when people if they do have stress they can draw upon it,” he said.

Source: Read Full Article