The FED will grant US $ 2,3 billion loans to the business sector
The goal is to help families, businesses, and state and local governments to sustain the economy
The central bank of the United States announced last Thursday more financing facilities to sustain the economy, which has been affected by the paralysis of activities throughout the country, with the aim of fighting the spread of the new virus.
In a statement, FED President Jerome Powell said: “The role of the Federal Reserve is to provide as much relief and stability as we can during this period of restricted economic activity, and these measures will help ensure that revival is as vigorous as possible.”
The measure corresponds to a new loan program that will allow the FED to grant loans to companies for $ 600 billion, a line of financing that is part of changes and increases made to existing central bank programs.
The support will also be funded by the massive $ 2,2 trillion package that the US Congress approved late last month.
For his part, Treasury Secretary Seven Mnuchin said the program “will make a significant difference for the 40,000 medium-sized companies that employ 35 million Americans.”
K.Villarroel
Source: Finanzasdigital
