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The Federal Reserve will provide up to $2.3 trillion of loans to further support the economy, the central bank said Thursday. The so-called Main Street Lending Program will provide support to households and businesses of all sizes and help governments deliver critical services to combat disruptions caused by the COVID-19 pandemic. “Our country's highest priority must be to address this public health crisis, providing care for the ill and limiting the further spread of the virus," Federal Reserve Chairman Jerome Powell said in a statement. "The Fed's role is to provide as much relief and stability as we can during this period of constrained economic activity, and our actions today will help ensure that the eventual recovery is as vigorous as possible."
Thursday, April 9, 2020
Federal Reserve launches $2.3T Loan Program to support Main Street
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