The U.S. Federal Reserve's balance sheet reached a record $4.7 trillion thi...
WASHINGTON - The U.S. Federal Reserve’s balance sheet reached a record $4.7 trillion this week and banks grabbed cut rate loans from the central bank as efforts to blunt the economic damage of a global health crisis took hold.
The discount window is the main tool through which the Fed acts as the economy’s “lender of last resort,” and has often been avoided by banks who feel that using it is a sign of distress. It was the largest amount taken from the discount window since October 2009, when the United States was still climbing out of the 2007 to 2009 recession.
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