Federal Reserve

With Dirty Energy Sector Crashing, Nearly 70 Groups Urge Fed to Stop Buying Up Wasteful Fossil Fuel Industry Debt

A coalition of nearly 70 advocacy organizations is demanding that the Federal Reserve immediately stop using its emergency Covid-19 lending facilities to buy up fossil fuel debt, warning that rescuing the faltering oil and gas industry is both a bad investment of public money and disastrous for the climate. The Federal Reserve Board’s “decision to …

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‘The Public Has a Right to Know’: Fed Refuses to Release Documents on Fossil Fuel Industry’s Covid-19 Bailouts

The Federal Reserve has missed a deadline to release documents requested by environmental group Food & Water Action in May to reveal the extent to which the central bank has used one of its major Covid-19 lending programs to rescue the faltering oil and gas industry. “The public has a right to know if the …

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Watchdog Demands Probe After Energy Secretary Admits WH Pressed Fed to Give Oil Companies Access to Covid-19 Funds

A watchdog on the congressional committee tasked with overseeing the Trump administration’s handling of Covid-19 bailout funds demanded an investigation Tuesday after Energy Secretary Dan Brouillette openly admitted in a television appearance that the White House pressed the Federal Reserve to alter one of its lending programs for the benefit of fossil fuel companies. “We …

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‘The Public Deserves to Know’: Lone Watchdog Demands Federal Reserve Release Names of Corporations Receiving Taxpayer Bailouts

The lone watchdog on a congressional committee formed to oversee the Trump administration’s handling of a multi-trillion-dollar coronavirus bailout package demanded Wednesday that the Federal Reserve release to the public both the names of corporations receiving taxpayer bailout money and details on how the funds are being used. “The public deserves to know which companies …

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‘Extremely Alarming’: Coronavirus Stimulus Law Allows the Federal Reserve to Hold Secret Meetings on Corporate Bailouts

A brief and obscure provision buried in the nearly 900-page coronavirus stimulus package passed by Congress last month authorizes the Federal Reserve to skirt longstanding transparency and accountability requirements as it doles out trillions of dollars in taxpayer money to large corporations. The provision of the CARES Act allowing the Fed to avoid oversight kicked …

‘Extremely Alarming’: Coronavirus Stimulus Law Allows the Federal Reserve to Hold Secret Meetings on Corporate Bailouts Read More »