Landmark Fed business rescue struggles amid economy’s woes

Politico (USA) | Aug 1, 2020 at 9:00 AM
  • The Federal Reserve’s $600 billion “Main Street” lending program, designed to rescue companies whacked by the coronavirus pandemic, is sputtering just weeks after it was launched, doling out only a handful of loans.
  • As of Wednesday, the central bank held about $82 million in Main Street loans, while additional loans worth about four times that size are close to being finalized.
  • One official in charge of the Main Street efforts at a large U.S. bank expected demand for the program to pick up closer to when it’s set to stop operating at the end of the year.