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'Fed is on its game' — Cramer praises $2.3 trillion in loans to help businesses, municipalities

CNBC’s Jim Cramer on Thursday praised the Federal Reserve‘s latest moves to help keep afloat a U.S. economy that’s been battered by the coronavirus pandemic.

Before the stock market opened, the Federal unveiled details of its much-anticipated Main Street lending program and other initiatives, a total of $2.3 trillion in loans to help businesses and municipalities.

“The Fed is on its game. This is what is needed because we’ve got to fight off a depression,” Cramer said on “Squawk Box.” “We’ve got to get America open for business.”

Cramer said the final piece needed to restart the stalled economy is the science. “We just need to hear something positive vaccine, something positive antiviral.”

“We need the science too. Science is lagging the Fed,” the “Mad Money” host said, predicting that if new U.S. coronavirus cases were to continue to slow, the economy could be reopened next month.


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