White House backs effort to restrict support for Fed emergency lending -Kudlow

The Trump administration strongly supports an effort by a Republican senator to insert a provision in a coronavirus relief bill that would restrict the use of U.S. Treasury funds to backstop emergency lending by the Federal Reserve, a top White House adviser said on Friday.

"We are strongly in support of Senator (Pat) Toomey's view with respect to the Treasury emergency funds," National Economic Council Director Larry Kudlow told reporters.