Today news
The same in other media
Powell: Fed to soon begin 'challenging' Main Street lending
Reading now: 798
WASHINGTON – Federal Reserve Chair Jerome Powell acknowledged Friday that the Fed faces a major challenge with the launch in the coming days of a program through which the Fed will lend directly to private companies for the first time since the Great Depression.
The Fed's Main Street Lending is geared toward medium-sized companies that are too large for the government's small business lending program and too small to sell bonds or stock to the public.
The loans will technically be made by banks, but the Fed will buy 85% to 95% of each loan, thereby reducing the risk to banks and freeing them to do more lending.
Powell noted that the complexity of the program goes far beyond the Fed's usual lending efforts, which typically involve buying
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
COVID-19
United States
|
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
|
India
|
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
|
Brazil
|
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
|
United Kingdom
|
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
|
Russia
|
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
|