The Fed’s Paycheck Protection Program Liquidity Facility, explained
Abstract: The Federal Reserve, whose role is to help stabilize the economy, stepped in and started lending to banks and other lenders so that those lenders, in turn, could lend to small businesses. The aim is to help make it so that businesses that seek loans are more likely to hear yeses, that funds will flow through lenders receiving the Fed loans to those small businesses and the people who work for them.
Description: Full Text
Provider: Federal Reserve Bank of Cleveland
Publication Date: 2020-20-62