(Reuters) – The emergency lending programs the Federal Reserve set up during the pandemic have eased stresses in financial markets and are still needed, Cleveland Federal Reserve Bank President Loretta Mester said on Monday.
Fed Chair Jerome Powell will be working with the Treasury Department to determine if the programs should be extended beyond the end of the year, Mester said.
“But in my view, if it were me, I would extend all of them,” Mester told reporters. “The fact that they exist provides confidence to the markets.”
(Reporting by Jonnelle Marte; Editing by Chris Reese)
