- Fed's chairman Powell: We are continuing to look at ways to accommodate additional borrowers
Market news
19 May 2020
Fed's chairman Powell: We are continuing to look at ways to accommodate additional borrowers
- Says Fed is looking at extending borrowing to states with relatively low populations
- Expects Main Street Lending Program and other outstanding facilities to be running by the end of May
- Fed is getting good deal of interest in its facilities
- Anything that keeps people out of insolvency should be considered by Congress
- Important to consider virus impacts on state and local governments
- Fed and Congress may need to do more to aid economy
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