the Congress approved late last month. The central bank will buy up all the loans issued by private banks worth up to the full $349 billion allocated to the program.
"There is every reason to believe that the economic rebound, when it comes, can be robust," Powell said in a speech. "Google searches for 'file for unemployment' are now falling consistently on a week-on-week basis, by about one-third," he wrote, forecasting a decline in claims next week to 4.5 million – a number that would have been unthinkable a month ago before shops and businesses wereIMF chief Georgieva said the coronavirus pandemic could cause"the worst economic fallout since the Great Depression," turning global growth negative and requiring a massive governmental response.
The bill includes direct cash payments to Americans, expanded unemployment insurance, and a $350-billion small business loan program, which has had a tumultuous rollout.
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