Private equity has had a disastrous impact on the retail industry, driving dozens of firms into bankruptcy, shutting down tens of thousands of stores, and costing hundreds of thousands of jobs nationwide.
Together, these facilities could deploy up to $2.3 trillion in new credit to the economy during the pandemic crisis period. Without major changes these facilities will not be effective in getting assistance to those most impacted by the crisis, and disclosure and transparency regarding specific borrowers and loan terms is lacking. Our comment provides specific recommendations to address these issues.
AFR Education Fund released the following policy memo analyzing the Federal Reserve’s unprecedented move to provide direct credit to states and localities. A pdf copy of the memo is available here. Review of New Federal Reserve Facilities On April 9th the Federal Reserve announced six