Fed expands main street lending plans
Central bank faces criticism for appearing to respond to oil and gas lobbying
The Federal Reserve has expanded the scope and scale of its forthcoming Main Street Lending Program, but now faces criticism for appearing to pander to lobbyists.
A greater number of businesses will now be able to access the programme, and the range of loan sizes has been expanded to include smaller and larger loans.
The programme will include firms with up to 15,000 employees and 2019 revenues of less than $5 billion, an increase from the previous limits of 10,000 employees and $2.5 billion
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