The Briefing Room

General Category => Economy/Business => Topic started by: mystery-ak on April 09, 2020, 07:19:08 pm

Title: Fed Unleashes $2.3 Trillion of Aid to U.S. Economy
Post by: mystery-ak on April 09, 2020, 07:19:08 pm

Breitbart News 9 Apr 2020

The Federal Reserve Thursday unveiled $2.3 trillion in additional aid to American households and businesses besieged by the coronavirus outbreak.

The Fed said Thursday that it is activating a Main Street Business Lending Program authorized by the CARES Act, the largest economic relief package ever passed by Congress.

Federal Reserve Chairman Jerome Powell said the Fed’s role was to “provide as much relief and stability as we can during this period of constrained economic activity.”

In a webcast from the Brookings Institution, Powell said that the Fed fully intended to use its powers “forcefully, proactively and aggressively until we are confident that we are solidly on the road to recovery.”

He said there was “every reason to believe that the economic rebound, when it comes, can be robust” because the economy was doing well before the virus hit.

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https://www.breitbart.com/economy/2020/04/09/fed-unleashes-2-3-trillion-of-aid-to-u-s-economy/ (https://www.breitbart.com/economy/2020/04/09/fed-unleashes-2-3-trillion-of-aid-to-u-s-economy/)