Final Fed lending facilities to go live this month

Jerome Powell gives testimony
Jerome Powell
Federal Reserve

The Federal Reserve is planning to launch its remaining five lending facilities by the end of this month, chair Jerome Powell told lawmakers on May 19.

Powell said that if the uptake on the facilities is not what the central bank is hoping for, it will make adjustments as needed to ensure borrowers’ needs are met.

The chair’s remarks follow criticism from Congress in recent days that the Fed and the Department of the Treasury have been slow to start lending to businesses and municipalities. So

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