This section seems really important in the new legislation: It says the Fed retains the powers it had pre-CARES. The Fed cannot restart MLF, Main Street exactly, but this prob. suggests it can still funnel credit fairly directly.

This section seems really important in the new legislation: It says the Fed retains the powers it had pre-CARES.

The Fed cannot restart MLF, Main Street exactly, but this prob. suggests it can still funnel credit fairly directly. (1/2) t.co/kQVeqlC6yK pic.twitter.com/ykzntEbEnN

— Jeanna Smialek (@jeannasmialek) December 21, 2020