Federal Reserve Chairman Jerome Powell says more fiscal policy will result in a faster economic recovery, but it is up to Congress to decide and the Fed is considering expanding loans to nonprofits.
The Federal Reserve announced on Tuesday that it had extended the end date of the Main Street Lending Program facilities to January 8, 2021.
The extension will give the Fed more time to review the fund’s loans that were submitted to the Main Street loan portal until December 14, the Fed said in a press release.
WHAT IS THE MAIN EDF STREET LOAN PROGRAM?
The loan program first announced in April is intended to help facilitate loans for small and medium-sized businesses in the United States in the midst of the coronavirus pandemic.
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