Spending on coronavirus relief has "sent the federal debt soaring to levels not seen since the end of World War II as a proportion of the economy."
The central bank expects to maintain ultralow rates until “inflation has risen to 2 percent and is on track to moderately exceed 2 percent for some time.”
“Banks remained resilient in fourth quarter 2020, consistent with the improving economic outlook,” the FDIC says.
Bank of America's results were helped by an $828 million release from its reserves for expected loan losses.
"Our results continued to be impacted by the unprecedented operating environment and the required work to put our substantial legacy issues behind us."
Beam allegedly made false promises to users of its app that it would provide them with 24/7 access to their funds and substantial interest rates.
“With the explosion in virus numbers putting downward pressure on demand in the short-term, we expect inflation to remain subdued for a while yet."
The bank will purchase another 150 billion pounds in bonds to shore up the U.K. economy as the country enters a second lockdown.
“This is a huge victory for Nebraska consumers and the fight for achieving economic and racial justice."
“These were promising results against a backdrop of the continuing impacts of COVID-19 on the global economy."
The Fed's Open Market Committee said that the ongoing public health crisis would continue to weigh on economic activity, employment, and inflation.
“Terrifyingly high unemployment and potentially rapid disinflation are powerful arguments in favor."
