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Powell Says Looking to Make Main St Program More Available

FED

Q: What's wrong with the design of the Main Street program? For example, Treasury telling some banks to target zero losses.

A: More than half of banks signed up, banks are joining, borrowers are coming. It's small now, but we're looking at some things to make it more broadly available, to pretty much any company that needs it and that can service a loan.

Don't know about reports that Treasury is advising banks to target zero losses. We go through the banking system because we're not going to have 100,000 or a million loan officers working for the Fed.

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