We experienced a pronounced and very welcome bounceback in national retail spending and housing activity over the early summer months. We also saw positive news on progress toward a vaccine and in the effective treatment of patients. Even so, positive cases and hospitalizations have risen in some areas and continue to weigh on some regions and the overall economy.
Therefore, given that the maximum amount of loans had almost been disbursed, Policy Board members at the MPM held on June 13 and 14, 2011 discussed how to proceed with the measure.