Bloomberg: Powell Says Main Street Lending to Start Soon
The Fed chair’s comments haven’t offered much novelty thus far, but Powell did mention that the Main Street lending program will start in a few days after receiving a couple thousand letters of interest. That will hopefully provide a bit of backbone to the economic recovery. However, it remains uncertain how these credits, and indeed corporate borrowing in general, will perform if (or as) revenues continue to fall short of pre-Covid levels.
The Fed chair’s comments haven’t offered much novelty thus far, but Powell did mention that the Main Street lending program will start in a few days after receiving a couple thousand letters of interest. That will hopefully provide a bit of backbone to the economic recovery. However, it remains uncertain how these credits, and indeed corporate borrowing in general, will perform if (or as) revenues continue to fall short of pre-Covid levels.