Economy

Banks added jobs in 2020. Are layoffs ahead?

03/29/21

The economy is poised to rebound, meaning loan demand and hiring will pick up, some observers say. Others argue that banks have plenty of reasons to cut jobs given industry consolidation, the growth of digital banking and expectations that low interest rates will persist.

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Credit outlook brightens, but recovery hinges on vaccinations: ABA

03/19/21

Bank economists predict further improvement in the quality and availability of consumer and business credit now that a third stimulus package has been approved. Still, COVID-19 vaccine distribution will determine how quickly the U.S. economy rebounds.

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Wells Fargo CEO 'bullish' on economy in second half

03/17/21

Wells Fargo Chief Executive Charlie Scharf said he sees the U.S. economy coming back from the coronavirus pandemic in a strong way in the second half of the year.

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U.S. small businesses are holding off the debt apocalypse. For now.

03/16/21

Government relief programs and lenders’ forbearance have kept U.S. small businesses from defaulting on their debt en masse as revenue slumped during the pandemic crisis, according to a new analysis.

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Fed’s Beige Book shows businesses optimistic on vaccine take-up

03/03/21

The U.S. economy expanded modestly in the first two months of the year and sentiment among business owners is picking up as vaccinations bolstered the prospects for economic growth, the Federal Reserve said.

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The national debt is big and getting bigger. Does it matter?

03/03/21

As government debt swells, the outer limits of what the U.S. can safely borrow are becoming less and less clear.

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Community bankers’ optimism on economy fades

02/15/21

A full rebound won’t occur until next year at the earliest because of the slow vaccine rollout, most executives at small banks said in a new survey. Last summer, more than half expected a turnaround this year.

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Community bankers’ optimism on economy fades

02/15/21

A full rebound won’t occur until next year at the earliest because of the slow vaccine rollout, most executives at small banks said in a new survey. Last summer, more than half expected a turnaround this year.

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BofA CEO says consumer spending bounce signals pent-up demand

01/26/21

“The economy keeps moving forward and we feel very constructive about the consumer activity,” Brian Moynihan said.

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