Trump aides say business-loan plan working, 'pause' comes next

Washington (AFP) – The Trump administration on Sunday termed the second phase of an emergency job-saving program a success, with more than $175 billion in loans already issued to smaller companies and more likely after a “pause.”The two phases of the so-called Paycheck Protection Program (PPP) have provided a total of $669 billion, including $320 billion in the latest tranche. The program aims to preserve jobs threatened by the coronavirus pandemic, which has paralyzed much of the US economy.The number of individual loans issued under the second phase — 2.2 million so far — exceeds the numbe…

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HEDGE accordingly