Your current location:HOME >opinions >Missouri lawmakers back big expansion of low 正文
TIME:2024-05-21 15:02:54 Source: Internet compilationEdit:opinions
JEFFERSON CITY, Mo. (AP) — Missouri lawmakers gave final approval Thursday to significantly expand a
JEFFERSON CITY, Mo. (AP) — Missouri lawmakers gave final approval Thursday to significantly expand a low-interest loan program for farmers and small businesses, in a move that reflects strong consumer demand for such government aid amid persistently high borrowing costs.
The legislation comes as states have seen surging public interest in programs that use taxpayer funds to spur private investment with bargain-priced loans. Those programs gained steam as the Federal Reserve fought inflation by repeatedly raising its benchmark interest rate, which now stands at a 23-year high of 5.3%.
Higher interest rates have made virtually all loans more expensive, whether for farmers purchasing seed or businesses wanting to expand.
Under so-called linked-deposit programs, states deposit money in banks at below-market interest rates. Banks then leverage those funds to provide short-term, low-interest loans to particular borrowers, often in agriculture or small business. The programs can save borrowers thousands of dollars by reducing their interest rates by an average of 2-3 percentage points.
Hall of Fame outfielder Ken Griffey Jr. to lead Indianapolis 500 field in Corvette pace car2024-05-21 14:43
Freeze chicken, remove skin: Expert's top tips for avoiding deadly campylobacter2024-05-21 14:27
Bazaar train boosts incomes for residents in Xinjiang, NW China2024-05-21 14:21
Commentary: Xizang's remarkable development debunks groundless Western accusations2024-05-21 14:09
Insider Q&A: CIA's chief technologist's cautious embrace of generative AI2024-05-21 13:28
Spotlight2024-05-21 13:26
Commentary: Money rules in American elections2024-05-21 12:53
Young talents key to science, tech innovation2024-05-21 12:47
Ship that caused Baltimore bridge collapse has been refloated2024-05-21 12:45
Commentary: Philippines' provocation undermines regional stability2024-05-21 12:40
The unstoppable duo of Emma Stone and Yorgos Lanthimos2024-05-21 14:46
Hong Kong fast2024-05-21 14:34
Commentary: Washington's overcapacity charges misleading2024-05-21 14:33
Travel boom sees 740 mln trips made in 32024-05-21 14:26
Dodgers acquire pitcher Yohan Ramírez from Mets for cash2024-05-21 14:23
Feature: China2024-05-21 13:50
China's top court vows better judicial protection of consumer rights2024-05-21 13:18
Madeleine McCann suspect to face trial on separate sex assault charges2024-05-21 13:17
Not so Cool Britannia! Noel Gallagher gives damning verdict on Keir Starmer2024-05-21 13:14
Xi Focus: Xi Jinping meets Ma Ying2024-05-21 13:13