News Topic: Economy

Cash, Treasurys and other securities effectively guaranteed by the federal government now make up more than 35% of the combined balance sheets of the 25 biggest U.S. banks, according to data compiled by the Fed. That’s the biggest share in records dating ... Read full article

Federal Reserve Bank of Boston President Eric Rosengren said the long period of low interest rates before the coronavirus pandemic is contributing to the depth of the current recession. ... Read full article

Federal Reserve Chair Jerome Powell said the lack of additional stimulus is creating "unnecessary hardship for households and businesses." ... Read full article

Bank of America Chief Executive Brian Moynihan called for another round of federal stimulus to help the U.S. reach a full economic recovery from the coronavirus pandemic. ... Read full article

JPMorgan Chase's CEO says he fears productivity is slipping and that workers, particularly younger ones, are feeling alienated. ... Read full article

The stock market has reached record highs despite rampant unemployment, recession and a global pandemic. What gives? ... Read full article

Federal Reserve Chair Jerome Powell announced a new approach to monetary policy Thursday that takes a more relaxed stance on inflation and on its view of how low U.S. unemployment can go. ... Read full article

With continued economic instability as a result of the coronavirus, how will the US manage the uncertainty that appears to have no end in sight. ... Read full article

Observers say the rare denial is rooted in skepticism that a new bank can succeed under current economic conditions and a signal to other proposed banks to hit the pause button. ... Read full article

A public-private partnership that has fewer rules and restrictions than the Paycheck Protection Program would save more small businesses. ... Read full article

More than a third fear the fallout from the coronavirus pandemic could drag into 2022 or later, and they are most worried about commercial real estate loans, according to a Promontory Interfinancial Network survey. ... Read full article

The U.S. economy can escape another decade-long slog back to health if strong public measures or a vaccine curb virus surges, Federal Reserve Bank of San Francisco President Mary Daly said. ... Read full article

Top executives from Citigroup and Goldman Sachs offered warnings Wednesday about why the U.S. economy may be slow to bounce back from the coronavirus pandemic. ... Read full article

A global health crisis. Economic free fall. A reckoning over racism and inequality. We will not be the same after this — and neither will banking. ... Read full article

An article in The Atlantic warning that collateralized loan obligations will be banks’ next downfall overestimates the risk of these securities. ... Read full article

Lawmakers shouldn't let themselves be misled by a slower pace in personal bankruptcy filings so far this year. ... Read full article

The takeaway from the PPP rollout is that bankers must protect their reputations and limit their risk appetites as they participate in further government-backed rescue programs. ... Read full article

Investors are looking past signs of weakness and toward an eventual recovery, but top executives at BlackRock, Citigroup, Goldman Sachs and other financial firms remain cautious as many cities and states remain in partial lockdown to slow the spread of the ... Read full article