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Jonnelle Marte

Fed's Rosengren says demand for Main Street loans expected to grow as U.S. economy grapples with virus

08 Jul 2020

The U.S. economy could recover more slowly than expected from the economic crisis caused by the novel coronavirus, and demand for the Federal Reserve's Main Street lending program, which aims to support small and mid-sized businesses, could grow over time, Boston Federal Reserve Bank President Eric Rosengren said on Wednesday.

NY Fed's Singh says emergency facilities helped markets despite low usage

08 Jul 2020

The Federal Reserve's emergency lending facilities helped stabilize markets after anxiety over the coronavirus sparked volatility in March, and the central bank stands ready to adjust its approach if necessary, a senior official at the New York Fed said on Wednesday.

As draw of city life faded for non-college workers, Blacks and Latinos were squeezed hardest

08 Jul 2020

Living in a large, expensive city used to pay off for all workers by giving them a shot at better jobs and bigger paychecks.

Economists call for more direct cash payments tied to the health of the economy

07 Jul 2020

Direct cash payments can improve financial security, boost consumer spending and may speed up the recovery, according to a letter from a group of economists calling on U.S. policymakers to keep providing direct cash payments to Americans until the economy is stronger.

Boston Fed says Main Street program now 'fully operational' and ready to purchase loans

06 Jul 2020

NEW YORK The Federal Reserve Bank of Boston said on Monday the Main Street Lending Program is now fully operational and ready to purchase eligible loans.

Gap in U.S. Black and white unemployment rates is widest in five years

02 Jul 2020

The United States saw the widest gap in unemployment rates for African Americans and whites in five years in June, underscoring an uneven nascent recovery from historic job losses triggered by the coronavirus pandemic.

Fed deluged by letters from needy over U.S. loan program

01 Jul 2020

The U.S. Federal Reserve on Wednesday released thousands of letters and emails from individuals, businesses and nonprofit groups this spring urging wider access to its Main Street Lending Program for Americans slammed financially during the pandemic.

Fed officials stress need to factor in structural inequities when evaluating economy

30 Jun 2020

Policymakers need to keep diversity and structural racial inequalities in mind when analyzing the labor market and other measures of the economy, two Federal Reserve officials said on Tuesday.

NY Fed's Williams says full recovery will likely take years

30 Jun 2020

The U.S. economy is showing signs of a turnaround as businesses reopen, but the pace of the recovery is being slowed by large-scale virus outbreaks in some states and it could be years before the economy is back at full strength, New York Federal Reserve Bank President John Williams said on Tuesday.

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