WASHINGTON (AP) – The Federal Reserve is taking additional steps to provide up to $2.3 trillion in loans to support American households and businesses, as well as local governments, as they deal with the coronavirus.
The Fed said Thursday that it is activating a Main Street Lending Program authorized by the $2.3 trillion economic relief bill pass by Congress last month.
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Federal Reserve Chairman Jerome Powell said the Fed’s role was to “provide as much relief and stability as we can during this period of constrained economic activity.”
Martin Crutsinger is a reporter for The Associated Press.
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