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THE FEDERAL RESERVE announced that it will be buying loans that banks make to small businesses as part of the SBA's small-business lending program. Above, Federal Reserve Chairman Jerome Powell. / AP FILE PHOTO/JACQUELYN MARTIN

Federal Reserve to boost small-business lending efforts

WASHINGTON (AP) – The Federal Reserve said in a brief announcement that it would support the government's $349 billion small-business lending program, which had...
FEDERAL RESERVE Chair Jerome Powell pauses during a news conference in Washington. The Federal Reserve says it will buy short-term loans from banks and companies to support the flow of credit as the economy grinds to a halt amid the viral outbreak. The Fed is reviving a program that it first used during the 2008 financial crisis to unclog a short-term lending market for what is known as “commercial paper.” / AP FILE PHOTO/JACQUELYN MARTIN

Federal Reserve to lend up to $300B to businesses, cities

WASHINGTON (AP) – In a series of sweeping steps, the U.S. Federal Reserve will lend to small and large businesses and local governments as...

To calm panic, Fed must go big or go home

The Federal Reserve is zero-for-two in its fight against Wall Street’s coronavirus panic, seeming to confirm perceptions of the central bank’s impotence. The Fed’s first...
A SHARP DROP in the U.S. stock market triggered another temporary halt Monday. / AP FILE PHOTO/MARY ALTAFFER

Stocks nosedive on Wall Street, triggering another trading halt

NEW YORK (AP) – Stocks dropped 8% in the first minutes of trading Monday on Wall Street and triggered another temporary halt to trading...

Federal interest-rate cuts good for businesses, borrowers but bad for banks

PROVIDENCE – The emergency half-percentage-point cut in the federal interest rate is bad news for banks, at least from a revenue perspective. The Federal Reserve’s...
ECONOMIC ACTIVITY in the First District, which comprises of New England, was said to have continued its expansion at the start of 2020.

Beige Book: N.E. economy continues expansion

PROVIDENCE – Economic activity in New England continued to expanded from mid-January to early March, according to the Federal Reserve’s Beige Book released on...
THE FEDERAL RESERVE cut its benchmark interest rate by a half-percentage point in response to market instability caused by the spread of the coronavirus. / AP FILE PHOTO/ ANDREW HARNIK

Virus spread prompts Fed to cut rates in emergency move

WASHINGTON (AP) — The Federal Reserve cut its benchmark interest rate by a sizable half-percentage point Tuesday in an effort to support the economy...

Consumer debt is piling up, and that’s OK

Consumer debt is rising in the U.S., and the reaction to this news has been both heated and predictable: “Americans in record debt: It’s...

Coronavirus freaked markets, not the Fed

The U.S. equity market finally took notice of the coronavirus, which now is spreading from China to other countries and increasing the risk of...
ECONOMIC CONCERNS: Panelists, from left, Kristen Urbach, Thomas O. Sweeney, Stefan Pryor, Mark K. W. Gim and Luke Ebersold discuss a variety of concerns at the PBN Economic Trends Summit while moderator Thomas Zitzouris looks on. / PBN PHOTO/MIKE SKORSKI

PBN summit: High business costs, education are concerns in R.I.

The Rhode Island economy has come a long way since the dark days of the Great Recession, when the unemployment rate was among the...

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