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."
A Fed survey shows banks are continuing to raise the bar for lending in response to worsening economic conditions.
The central bank chair said fiscal stimulus is needed to help the economy recover from the effects of the coronavirus.
“The public rebuke marks a major escalation of regulators’ efforts to get Citigroup to fix its risk systems."
"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.”
Loan officers cited the financial condition of borrowers and overly restrictive terms for not approving loans under the key pandemic relief plan.
The group said Judy Shelton was ‘incapable’ of leaving politics at the door.
Core inflation rose 0.6% last month, the largest gain since January 1991, as the disinflationary impact of the coronavirus continued to wear off.
The regulator is seeking to “ensure large banks remain resilient despite the economic uncertainty" from the coronavirus pandemic.
About 13% of adults reported that they lost a job or were furloughed in March or the beginning of April this year.
The coronavirus crisis drove consumer prices into "a disinflationary shock" last month despite government efforts to stimulate the economy.
“Terrifyingly high unemployment and potentially rapid disinflation are powerful arguments in favor."
