Federal Reserve Makes Changes To Main Street Lending Program

The video discusses a program aimed at helping small and medium-sized businesses affected by the coronavirus pandemic. The program has adjusted its loan terms, lowering the minimum and raising the maximum loan amounts, and extending the loan terms to five years. The Federal Reserve Chairman, Jerome Powell, emphasizes the importance of supporting businesses to aid economic recovery. Additionally, the Fed has delayed the repayment period and interest for loans.

What is the purpose of the Main Street Lending Program?

• To assist small and medium-sized businesses affected by the pandemic

• To provide loans to individuals

• To fund government projects

• To support large corporations

What is the new maximum loan amount under the Main Street Lending Program?

• $200 million

• $350 million

• $250 million

• $300 million

How long are the loan terms extended to under the new changes?

• Six years

• Five years

• Four years

• Three years

Who is the Federal Reserve Chairman mentioned in the transcript?

• Alan Greenspan

• Janet Yellen

• Ben Bernanke

• Jerome Powell

What is the new repayment period for the loans?

• Four years

• One year

• Three years

• Two years