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The Fed Loves Main Street as Much as Wall Street This Time
The Fed has relaunched programs built for the 2008-09 financial crisis and invented new ones to rescue big and small businesses.
17 Apr 2020, 04:57 AM IST
(Bloomberg Businessweek) -- Federal Reserve Chair Jerome Powell and his colleagues had a hard decision to make as the coronavirus epidemic worsened in February and March. If they stuck to the standard policy of buying only highly rated bonds, they would likely be accused of favoring Wall Street over Main Street—the traditional rap on the Fed. If they got creative, they could help more sectors of the economy but they would almost cer...
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