Federal Reserve Outlines Support for Small Businesses

Vice Chair Bowman highlights Fed's efforts to aid small firms during economic challenges.

Apr. 1, 2026 at 12:00am

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In a speech at the Consumer Bankers Association's annual conference, Federal Reserve Vice Chair for Supervision Michelle W. Bowman outlined the central bank's initiatives to support small businesses navigating economic headwinds. Bowman discussed the Fed's lending programs, regulatory flexibility, and other measures aimed at helping small firms access capital and weather challenges.

Why it matters

Small businesses are the backbone of the U.S. economy, accounting for nearly half of private sector employment. The Fed's support is crucial as small firms face rising costs, supply chain disruptions, and other obstacles that threaten their viability.

The details

Bowman highlighted the Fed's Main Street Lending Program, which provided over $17 billion in financing to small and medium-sized businesses during the pandemic. She also noted the central bank's efforts to provide regulatory relief and flexibility to help banks lend to small firms. Additionally, Bowman discussed the Fed's work to promote financial inclusion and ensure small businesses have equitable access to credit.

  • Bowman delivered the speech on March 31, 2026 at the CBA LIVE 26 conference in San Diego, California.

The players

Michelle W. Bowman

Vice Chair for Supervision at the Federal Reserve.

Consumer Bankers Association

A trade group representing retail banking institutions in the United States.

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What they’re saying

“Small businesses are the backbone of our economy, and the Federal Reserve is committed to supporting them through these challenging times.”

— Michelle W. Bowman, Vice Chair for Supervision

The takeaway

The Federal Reserve's ongoing efforts to aid small businesses, through lending programs, regulatory flexibility, and financial inclusion initiatives, demonstrate the central bank's recognition of the critical role these firms play in the U.S. economy.