Washington city Boston virus president economy Coronavirus Washington city Boston

Regional Fed chief: Loan program could aid a slow recovery

Reading now: 829
www.clickorlando.com

WASHINGTON – The president of a regional Federal Reserve bank that will oversee a groundbreaking business lending program said Wednesday that he thinks a slower-than-expected recovery from the economic downturn would lead companies to seek critical support from the program.

In an interview with The Associated Press, Eric Rosengren, president of the Federal Reserve Bank of Boston, said the new Main Street Lending Program will provide bridge loans to formerly healthy companies that are struggling because of the virus and the resulting business shutdowns and economic downturn.

The Main Street program, announced in March, is expected to begin operations by June 1. The program will act as "an insurance policy in case things don’t go as well in

Read more on clickorlando.com
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.

Related News

DMCA