The Federal Reserve on Thursday took additional actions to provide up to $2.3 trillion in loans to support the economy. This funding will assist households and employers of all sizes and bolster the ability of state and local governments to deliver critical services during the coronavirus 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," said Federal Reserve Board Chair Jerome H. Powell. "The Fed's role is to provide as much relief and stability as we can during this period of constrained economic ... (full story)

The Federal Reserve on Thursday released long-awaited details regarding its Main Street business lending program and several other initiatives it is undertaking to backstop the reeling U.S. economy. Under provisions outlined for the first time, the loans would be geared toward businesses with up to 10,000 employees and $2.5 billion in revenues for 2019. The Fed said the programs would total up to $2.3 trillion and include the Payroll Protection Program and other measures. “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 ... (full story)