Federal Reserve faces blowback over plan to back some cities over others

US central bank makes politically-charged decision to lend only to large localities

The Federal Reserve is facing sharp criticism over its plan to provide emergency funding to states and large cities but not smaller localities and organisations that might be facing tougher fights against coronavirus or steeper declines in income.
Read more here: https://www.ft.com/content/e2d20041-0d86-4dea-8016-d1cfcc01f4c0