Powell Says Fed ‘Days Away’ From Main Street Lending

The transcript discusses the Federal Reserve's Main Street lending programs aimed at small and medium-sized companies that lack access to capital markets. It highlights the challenges faced in catering to diverse credit needs and the complexity of bank credit agreements. The Fed is working on implementing three Main Street facilities to address these challenges, with a focus on learning from feedback and experience.

In what ways is the world of bank credit different from the bond market?

What steps has the Fed taken to learn from experience regarding the Main Street term sheet?