Another Corporate Facility Launched, Fed Chair’s Prepared Comments are Stale, & PPP Expires
A scattered reopening rollback continued in the U.S., and an increase in confirmed COVID-19 cases is still expected.
The U.S. Federal Reserve launched its Primary Market Corporate Credit Facility yesterday—still nothing similar for the municipal bond market. Something comparable should be prepared.
Comments prepared for U.S. Federal Reserve Chair Jerome Powell’s statement to the House Committee on Financial Services are stale. The Q&A will be more informative and up to date.
The Paycheck Protection Program has its inefficiencies and funds remain, but the need for relief for small business will continue.