Fed’s Main Street Lending Program Off to Slow Start

In case you missed it, the Fed’s $600 billion midsize business initiative, the Main Street Lending Program kicked off last week. Yeah, that’s right. It’s a $600 billion program that you have probably never heard of. Remember when $600 billion was a big number?

Unsurprisingly, the program is off to a slow start. After months of administrative headaches, its launch was met with lackluster participation from the nation’s largest banks, and a seemingly low level of borrower interest. Tar...

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