Helping State and Local Governments Stay Liquid

Andrew Haughwout, Benjamin Hyman and Matthew Lieber

No 20200410b, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: On April 9, the Federal Reserve announced up to $2.3 trillion in new support for the economy in response to the coronavirus pandemic. Among the initiatives is the Municipal Liquidity Facility (MLF), intended to support state and local governments. The details of the facility are described in the term sheet. The state and local sector is a unique but very important part of the economy. This post lays out some of the economics of the sector and the needs that the facility intends to satisfy.

Keywords: state government; local governments; COVID-19; municipal government; facility (search for similar items in EconPapers)
JEL-codes: E52 H0 (search for similar items in EconPapers)
Date: 2020-04-10
New Economics Papers: this item is included in nep-mac and nep-ure
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Citations: View citations in EconPapers (5)

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