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Q: Is Main Street facility too late? Will.......>

FED
FED: Q: Is Main Street facility too late? Will facility have one-year or
multiple year impact?
- A: We don't think it's too late, though, and we expect it to be up quite soon.
We leave them open for new loans as long as they need to, will decide with
colleagues at Treasury.  We don't have expertise in managing pools of credit
assets.... we would be looking to have that done either some place else, by a
third party, at Treasury...We're working on ideas for that. Our focus is on
getting facilities up and running.
- Q: Has economy hit bottom? Pandemic impact on racial inequality?
- A: Most forecasters saw bottom around mid-year. Jobs report is evidence that
the labor market may have hit bottom in May, we don't know that, will see.
Forecasters widely expect 2nd half recovery, it's possible. We won't overreact
to a single data point. 
- Unemployment has gone up more for Hispanics, African-Americans; women; notable
share of the burden beyond their percentage in the workforce. Want to get back
to tighter labor market.

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