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Fed’s Rosengren Says Main Street Lending Program Two Weeks Away

  • Boston Fed chief says other steps are easing market strains
  • Says he expects unemployment in second quarter to top 10%

Federal Reserve Bank of Boston President Eric Rosengren said the roll-out of a new lending program for small-and-medium-sized U.S. companies may still be “another couple” of weeks away.

“It’s a complicated facility to appropriately scope,” he said in an interview Wednesday on Bloomberg Television with Michael McKee. “We’re doing these facilities as fast as we can, and like every organization we’re dealing with a lot of people that are working remotely from home.”