The Federal Reserve and Treasury Department disagreed over how easy loan terms should be while crafting their $600 billion Main Street Lending Program meant to help support businesses through the early stages of the coronavirus pandemic, The Wall Street Journal reports.
The differing viewpoints slowed the program's start before it opened this past week, current and former government officials told the Journal. While the disagreements were over narrow design issues, the Journal notes it reflects a broader difference in approach by the two agencies.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Today's political cartoons - February 9, 2025Cartoons Sunday's cartoons - personal data, trans athletes, and more
-
5 tit-for-tat cartoons about Trump's trade warCartoons Artists take on Canada, Mexico, and more
-
The catastrophic conflict looming in the heart of AfricaIn the Spotlight Showdown between DR Congo and Rwanda have been a long time coming
-
Trump's China tariffs start after Canada, Mexico pausesSpeed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect
-
Chinese AI chatbot's rise slams US tech stocksSpeed Read The sudden popularity of a new AI chatbot from Chinese startup DeepSeek has sent U.S. tech stocks tumbling
-
US port strike averted with tentative labor dealSpeed Read The strike could have shut down major ports from Texas to Maine
-
Biden expected to block Japanese bid for US SteelSpeed Read The president is blocking the $14 billion acquisition of U.S. Steel by Japan's Nippon Steel, citing national security concerns
-
Judges block $25B Kroger-Albertsons mergerSpeed Read The proposed merger between the supermarket giants was stalled when judges overseeing two separate cases blocked the deal
-
Rupert Murdoch loses 'Succession' court battleSpeed Read Murdoch wanted to give full control of his empire to son Lachlan, ensuring Fox News' right-wing editorial slant
-
Bitcoin surges above $100k in post-election rallySpeed Read Investors are betting that the incoming Trump administration will embrace crypto
-
Enron mystery: 'sick joke' or serious revival?Speed Read 23 years after its bankruptcy filing, the Texas energy firm has announced its resurrection
