Fed will provide monthly disclosures on support programs

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.