FOX Business' Edward Lawrence breaks down what Fed Chairman Jerome Powell will address on Capital Hill concerning coronavirus recovery.
Boston Federal Reserve Bank President Eric Rosengren on Monday said the central bank’s newly launched Main Street Lending Facility provides “insurance” against what he expects to be a difficult second half of the year.
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FED'S POWELL WARNS 'SIGNIFICANT' NUMBER OF AMERICANS COULD REMAIN UNEMPLOYED AFTER VIRUS RECOVERY
“If I’m right and the second half of the year is more difficult than many people are anticipating, I think having this facility up and running will be an important insurance policy for the economy,” Rosengren told Yahoo Finance in an interview.
VIRUS PANDEMIC POSES ANOTHER CHALLENGE TO US ECONOMY: A COIN SHORTAGE
“I view every loan that we are going to be making as actually helping those businesses avoid very significant layoffs that they would get if they couldn’t get the financing that the Federal Reserve’s providing.”
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Fed's Rosengren sees difficult second half for US economy - Fox Business
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