Under the program, which was established jointly with the Treasury Department, the Fed can purchase 95 percent of a loan from banks if the loans go to businesses with fewer than 15,000 employees, or less than $5 billion in annual revenue. Loans can range from $250,000 to $300 million.
If a borrower defaults on the loan, the Treasury Department will help cover any losses with funding from the Cares Act, the federal relief bill passed in March.The lending program is seen as a kind of barometer for how effective and creative the Fed’s emergency response can be. The Fed’s quick moves to bolster the markets and bring interest rates to near zero are credited with avoiding even more financial uncertainty.
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Even though $600 unemployment boost lapsed, Congress likely will make new aid retroactiveWhenever Capitol Hill decides on the next round of federal unemployment benefits, those payments likely will be retroactive to when the $600 lapsed, experts say. Why should we be paying people more to stay at home than to go to work? In some cases they were getting paid double. Not saying people don’t need it, just saying we should incentivize people to go back to work and not stay home. What relief? GOP keeps blaming the Dems when MoscowMitch admits he can’t get more than 30 votes from his own caucus. The GOP doesn’t care about the 20,000,000 unemployed Americans who only have 5,000,000 open jobs to apply for. Front end or Back end ?
Source: CNBC - 🏆 12. / 72 Read more »
Dollar gains as appetite for risk subsidesThe dollar gained as appetite for risk dwindled in London early on Thursday, as markets waited for U.S. jobs data and updates about fiscal aid negotiations in Washington. Le...le...le.le.OOOOOOOOOO ! Le...le...le.le.OOOOOOOOOO Strong Dollar! $ risk free & safe like Trump & his evil empire where number of Covid deaths rise like S&P 500 in mad man's stock market?
Source: Reuters - 🏆 2. / 97 Read more »
“Out Of Patience”: Actors’ Equity Joins Other Unions In Demanding HEROES Act Senate PassageLabor leaders from five unions including Actors’ Equity Association today joined together to demand Senate action on the HEROES Act, calling the additional $600 in weekly pandemic unemployment benefits essential for food and shelter
Source: DEADLINE - 🏆 109. / 63 Read more »
The $600 jobless benefit expired and stimulus talks are dragging—here's what to do if you can't pay your credit card billsAs stimulus talks drag on and the $600 jobless benefit expires, here's what to do if you can't pay your credit card bills amid the coronavirus pandemic. the people dont want another stimulus! we know we will pay it back 3X over SpeakerPelosi V recovery has arrived. The Spring Equinox has been predicted. Most of you poor people need to call JG Wentworth now
Source: CNBC - 🏆 12. / 72 Read more »
The $600 unemployment boost is gone. Now 6 million Americans can't pay their billsA $600-a-week supplement to unemployment benefits leaves millions of Americans without enough cash flow to pay bills in August. Have they tried not being poor? Yeah, well I work full time and don't make 1k a week and am just fine. I think if these people can't afford to maintain their bills off of regular unemployment checks, they have more problems to worry about then free money from the government Get a job
Source: CNBC - 🏆 12. / 72 Read more »