Bharat Ramamurti to oversee how US govt handles $500 bn in bailout funds

This month, the Fed announced it was offering up to $2.3 trillion initially through five different lending facilities

Bharat Ramamurti, who was named this month as a member of the Congressional Oversight Commission to regulate relief programs administered by the Federal Reserve, will oversee how the United States government handles $500 billion in bailout funds to fight the economic impact of the coronavirus (Covid-19). 

Ramamurti said on Friday that he will also monitor how companies use the cash, including for share buybacks, dividends and staff compensation. He added that one of his overarching goals was to ensure American workers were protected.

"One of the major tools that Congress came up with for addressing the crisis