Economy

Senate Passes $2T Coronavirus Relief Stimulus Package

The Wall Street Journal reported that the senate passed a $2 trillion package designed to provide economic stimulus in response to the coronavirus pandemic. read more

WSJ: COVID-19 Makes Fed’s Banking Stress Tests Look Easy

The Wall Street Journal reported that as U.S. bankers prepare for their annual stress tests, many are realizing that the impact of COVID-19 is far worse. read more

Study: Small Businesses Already Feeling Huge Drop in Demand from COVID-19

A just-released national study found that 69% of U.S. small businesses have already experienced a large drop in demand due to the coronavirus pandemic and 60% believe demand will continue to decline. read more

WSJ: U.S. Airlines Discuss Potential Shutdown

The Wall Street Journal reported that U.S. airlines are planning to voluntarily shutdown most domestic passenger flights, according to officials from the industry and government. read more

Fed Poised to Take Further Action, Unemployment May Hit 30% in Q2

Bloomberg reported that the Federal Reserve has more tricks up its sleeve to respond to the economic impact of the coronavirus, according to a Fed official. read more

Fed, Central Banks Step Up Coronavirus Response

The Federal Reserve has increased its response to COVID-19, issuing its second rate cut this month and reducing reserve requirements ratios to 0%. Central banks announced coordinated action to enhance the liquidity of the U.S. dollar. read more

Wall Street Records Bleakest Day Since 1987 Despite Fed’s $1.5T Intervention

The Wall Street Journal reported that the U.S. stock market experienced its worst day on record since 1987 despite a move by the Federal Reserve to add $1.5 trillion to the market to curb “ominous” market activity. read more

WSJ: Oil Price Plummet Will Send Shockwaves Through ‘Everything’

The Wall Street Journal reported that the free fall of oil prices will send shockwaves through “everything,” potentially impacting financial institutions, private equity firms and manufacturers. read more

WSJ: Fed Rate Cut Hurts Lenders & Insurers the Hardest

The Wall Street Journal reported that the Fed’s emergency rate cut “took a direct hit” to banks and insurers. read more

Coronavirus May Spur Capital Flight from U.S. and Weaken Dollar

The continued worldwide spread of COVID-19 may weaken the U.S. dollar over the long run by impelling multinational corporates and foreign investors in the U.S. to repatriate money back to their home countries. read more

Coronavirus Poses Largest Threat to Global Economy Since Great Recession

The coronavirus Covid-19 presents the global economy with its greatest danger since the financial crisis, according to the OECD’s latest Interim Economic Outlook. read more

ELFA MLFI-25: 2020 Starts Off With a Bang, January Volume Up 28% Y/Y

The Equipment Leasing and Finance Association’s MLFI-25 showed new business volume for January was $9.2 billion, up 28% year-over-year. read more

Survey: Business Owners Remain Optimistic Even During Election Year

The QuickBridge Small Business Owner Survey found that despite lingering fears of a possible economic slowdown, most small businesses remain optimistic about the U.S. economy and their business prospects in 2020. read more

Survey: Business Owner Optimism Softens, Digital Marketing Usage Up

The latest Wells Fargo/Gallup Small Business Index survey showed that most business owners have a positive outlook on their financial situation and plan to use digital marketing to attract new customers. read more

WSJ: Boeing’s Troubles to Reduce U.S. GDP in 2020

The Wall Street Journal reported that the U.S. economy will most likely suffer a reduction in gross domestic product in the first half of 2020 due to Boeing’s ongoing troubles. read more

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Terry Mulreany
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