Fed launches Main Street lending program as unemployment climbs

Small Business
By Jennifer Kang
09 Apr 2020

The Federal Reserve unveiled two new liquidity facilities on Thursday to support small and medium sized businesses against the backdrop of an unemployment report that showed another 6.6 million Americans filed for unemployment benefits last week.

The central bank stepped in once again with a range of liquidity measure totaling $2.3tr on Thursday, including the Main Street lending program and the Paycheck Protection Program (PPP) liquidity facility. 

The Fed will purchase up to $600bn in loans through the Main Street lending program to ...

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