Main Street Program Gets First Nonprofit Borrower
The Sun Belt Conference's commissioner believes its $4.4 million loan from the Fed program is "really going to help us do what we need to do."
Banks Report Tightening Loan Standards in Q3
A Fed survey shows banks are continuing to raise the bar for lending in response to worsening economic conditions.
Fed Chair Jerome Powell Calls for More Stimulus
The central bank chair said fiscal stimulus is needed to help the economy recover from the effects of the coronavirus.
Citigroup Fined $400M Over Risk System Defects
“The public rebuke marks a major escalation of regulators’ efforts to get Citigroup to fix its risk systems."
CFOs Skeptical About Recovery Before Next Year
"All indicators from The CFO Survey point towards a slow return to normal that is challenging to forecast due to the uncertainty created by this virus.”
Banks Wary of Fed’s Main Street Loan Program
Loan officers cited the financial condition of borrowers and overly restrictive terms for not approving loans under the key pandemic relief plan.
Former Fed Officials Urge Senate to Reject Fed Nominee
The group said Judy Shelton was ‘incapable’ of leaving politics at the door.
July Jump in Prices Eases Disinflation Fears
Core inflation rose 0.6% last month, the largest gain since January 1991, as the disinflationary impact of the coronavirus continued to wear off.
Fed Clamps Down on Bank Capital Distributions
The regulator is seeking to “ensure large banks remain resilient despite the economic uncertainty" from the coronavirus pandemic.
Households’ Money Problems Started Back in March
About 13% of adults reported that they lost a job or were furloughed in March or the beginning of April this year.
Core Inflation Posts Record 0.4% Drop in April
The coronavirus crisis drove consumer prices into "a disinflationary shock" last month despite government efforts to stimulate the economy.