Hijacking the Fed to Bail Out States
Democrats are blocking Covid relief to keep 13(3) pandemic lending alive. Wonder Land: Does politics have a larger purpose than dividing power by multiple categories? Images: Getty Images Composite: Mark Kelly By Updated Dec. 17, 2020 7:49 pm ET
The Covid relief talks drag on in Congress, with the parties more or less agreeing to spend $900 billion more over a mere three months. But they’re still fighting over the details, and a major obstacle is the Democratic desire to use the Federal Reserve next year to channel tens of billions of dollars or more to state and local governments.