The Federal Reserve today announced that it will resume its normal bank examination activities
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The coronavirus pandemic poses “acute risks” to the survival of many of the nation’s small businesses, the Federal Reserve said today in its semiannual monetary policy report.
As expected, the Federal Reserve announced today that it would hold the target range for the federal funds rate at 0 to 0.25% as the U.S. continues to weather the economic challenges of the coronavirus pandemic.
The Federal Reserve today announced several adjustments to the Main Street Lending Program intended to facilitate participation by more small and midsize businesses.
Members of the Federal Reserve Open Market Committee said they expect economic activity in the second quarter to “decline at an unprecedented rate” as the coronavirus pandemic persists in the U.S., with the heaviest burden likely to fall on the “most vulnerable and financially constrained households in the economy.”
Testifying before the Senate Banking Committee today, Federal Reserve Chairman Jerome Powell flagged risks that could arise if the economic downturn associated with the pandemic continues for an extended time period.
In testimony published ahead of tomorrow’s Senate Banking Committee hearing, Federal Reserve Chairman Jerome Powell noted that “public input has been crucial” in the agency’s development of the Main Street Lending Program and that additional changes to the program may be forthcoming “as we learn more” about the needs of potential borrowers in the days ahead.
Financial sector vulnerabilities are “likely to be significant in the near term,” as the coronavirus pandemic continues to take a severe toll on economic activity in the U.S., the Federal Reserve said in its latest financial stability report released today.
Policymakers “ought to do what we can” to avoid a prolonged period of recession as a result of the coronavirus pandemic, Federal Reserve Chairman Jerome Powell said in remarks at a virtual event today.
The Federal Reserve today said it will identify, on a monthly basis, certain information about participants in the Paycheck Protection Program Liquidity Facility and the Term Asset-Backed Securities Loan Facility.