In the News

Fed official defends lending program Arkansas Democrat Gazette 08/08/2020 WASHINGTON -- A top Federal Reserve official on Friday defended the central bank's efforts to start a Main Street lending program and said the small number of loans approved so far would likely expand by a significant amount in coming months, especially if the pandemic worsens. While the Fed reported this… Read more »

Overseers weigh fixes for Fed loan program Arkansas Democrat Gazette 08/08/2020 WASHINGTON -- A new federally-backed loan program for midsize businesses hasn't attracted many borrowers, members of the Congressional Oversight Commission were told Friday. As of Tuesday, the Main Street Lending Program had approved 18 loans totaling $109.5 million, according to the Federal Reserve… Read more »

Hill takes lead role in panel's hearing Arkansas Democrat Gazette 08/07/2020 WASHINGTON -- More than four months after passage of the CARES Act, the Congressional Oversight Commission charged with monitoring $500 billion in Treasury Department funds still lacks a chairman. As a result, U.S. Rep. French Hill, R-Ark., will be entrusted with the gavel when the commission holds its… Read more »

Fed official defends slow start to Main Street loan program 08/07/2020 KARK WASHINGTON (AP) — A top Federal Reserve official on Friday defended the central bank’s efforts to launch a Main Street lending program and said the small number of loans approved so far would likely expand by a significant amount in coming months, especially if the pandemic worsens. While the Fed… Read more »

Fed Official Defends Slow Start to Main Street Loan Program 08/07/2020 The New York Times WASHINGTON — A top Federal Reserve official on Friday defended the central bank’s efforts to launch a Main Street lending program and said the small number of loans approved so far would likely expand by a significant amount in coming months, especially if the pandemic worsens. While the… Read more »

Businesses blast key Fed program, saying banks not interested in lending Daily Magazine 08/07/2020 Midsize companies that need to use the Federal Reserve's so-called Main Street Lending Program to weather the coronavirus crisis are having trouble getting banks interested, business representatives warned a panel overseeing the Fed's efforts. The Association for Corporate Growth,… Read more »

Firms Burst key Fed program, Stating banks not Considering Financing Fintech Zoom 08/07/2020 “Regrettably, I could neither borrow from the program nor find someone who has received a loan through it,” he included. The dearth of creditor interest is just one of numerous criticisms which have been enforced in the app, which is targeted at companies which are too big to qualify for… Read more »

Archbishop, Metropolitan join hands for religious freedom Catholic San Francisco 08/06/2020 Archbishop Salvatore J. Cordileone and Metropolitan Gerasimos of the Greek Orthodox Metropolis of San Francisco have written a joint letter urging House Speaker Nancy Pelosi to support a House measure in solidarity with persecuted Coptic Orthodox Christians in Egypt. The prelates also… Read more »

The 5th Stimulus - $300 Billion In Infrastructure Is The Missing Link Forbes 08/03/2020 As the battle over the fifth phase of Coronavirus legislation rages on Capitol Hill, I can’t help but wonder why an infrastructure stimulus has been swept off the table. Investing in critical public works and visionary projects is the one thing that Republicans, Democrats, and the White House… Read more »

The Fed’s Oil and Gas Bailout Is a Mistake 7/31/2020 Center for American Progress Introduction and summary The coronavirus pandemic and the necessary public health response have significantly decreased U.S. economic activity, placing a severe financial strain on businesses and households. More than 30 million people were receiving unemployment assistance at the end of June, and… Read more »