The Federal Reserve says it will report information on several of its economic support programs on a monthly basis. Federal Reserve Chair Jerome Powell says the central bank is committed to transparency and accountability. The Fed says that it will supply the names and details about participants in programs that are supported by the $2 trillion rescue program passed by Congress. The rescue effort has come under criticism after disclosures that some major publicly traded companies had obtained forgivable loans from the government’s Paycheck Protection Program, which then ran out of money, leaving many small and mid-size companies unable to obtain the loans.

Image copyright 2018 Getty Images. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Alex Wong
<p>Federal Reserve Board Chairman Jerome Powell testifies during a hearing before the Senate Banking, Housing and Urban Affairs Committee July 17, 2018 on Capitol Hill in Washington, DC. </p>

Posted
and last updated
Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
,
Weather
Monday
05/12/2025
Sunny
78° / 53°
0%
Tuesday
05/13/2025
Partly Cloudy
73° / 53°
6%
Wednesday
05/14/2025
Sunny
80° / 56°
0%
Thursday
05/15/2025
Sunny
87° / 61°
0%
Friday
05/16/2025
Partly Cloudy
88° / 61°
0%
Saturday
05/17/2025
Partly Cloudy
81° / 56°
3%
Sunday
05/18/2025
Partly Cloudy
75° / 57°
12%
Monday
05/19/2025
Sunny
83° / 61°
0%