Federal Reserve Chairman Jerome Powell (L) talks with US Treasury Secretary Steven Mnuchin during the G20 finance ministers and central bank governors meeting in Fukuoka on June 8, 2019. (Photo by KIM KYUNG-HOON/AFP via Getty Images) WASHINGTON (AP) - Federal Reserve Chair Jerome Powell said Tuesday that the Fed's lending programs for medium-sized businesses and state and local governments would begin operating by the end of this month.
Powell said that while the Fed has received a “good deal of interest” in those programs, if not enough companies or state and local governments seek to borrow, the Fed would consider changes to them.