Q&A Continues

Q: Given that capacity of lending programs have been barely used, should some
of money granted should be used by Congress to issue grants directly?

• A: That's really a Q for Congress. You're right we haven't done as much
  lending as we thought. That's largely because markets started working again
  soon after we announced the Corp Credit and Muni and short-term funding
  facilities. On the other hand, important the facilities remain in place, that's
  why we extended them. So can't speak to what Congress should do it. But
  important those facilities are there and fully funded in case need arises down
  the road.
• In response to follow-up, Powell says, there is no consideration given to
  asking Congress to allow Fed to lend to bankrupt companies.