By Jacob Passy, MarketWatch For much of the past year, Americans weren’t interested in taking on new debt — with one big exception. A new analysis from the Federal Reserve Bank of New York examined how the supply and demand of credit has ebbed and flowed throughout the COVID-19 recession.
By Jeff Cox, CNBC The Federal Reserve on Wednesday sharply ramped up its expectations for economic growth but indicated that there are no interest rate hikes likely through 2023 despite an improving outlook and a turn this year to higher inflation. As widely expected, the policymaking Federal Open Market Committee also voted
By Enda Curran, Michelle Jamrisko and Catherine Bosley, Yahoo Finance (Bloomberg) — Economic shocks like the coronavirus pandemic of 2020 only arrive once every few generations, and they bring about permanent and far-reaching change. Measured by output, the world economy is well on the way to recovery from a slump
By Tim Glaze, Housing Wire As the coronavirus began sweeping through the U.S. in March, many states issued shut-down orders for businesses, putting as many as 40 million people out of work by May. On March 27, Congress passed the CARES Act to offer economic relief to those affected by the shut-downs, expanding unemployment
By PYMNTS Americans see both good and bad economic times ahead, with consumers predicting the highest jump in household spending in more than four years, even as the largest share since 2013 think they’ll be worse off this time next year, New York Federal Reserve figures show. “Despite flat income
Sonic Drive-In Restaurant exterior. Sonic Corp. is an American drive-in fast-food restaurant chain. – Costa Mesa, CA – October 17, 2015 By Jonathan O’Connell, Andrew Van Dam, Aaron Gregg and Alyssa Fowers, Washington Post Ongoing revelations about how big businesses and chains were able to secure hundreds of millions of
By Jacob Pramuk,CNBC Congress comes back to Washington this week with two thorny issues to resolve before the end of the year. Lawmakers need to pass a spending bill by Dec. 11 to prevent a government shutdown. Meanwhile, they will have to decide whether to approve another coronavirus relief bill
By Alex Roha, Housing Wire Following previous natural disaster recovery patterns, mortgage delinquencies are not expected to return to pre-pandemic levels until March 2022, according to a report from Black Knight. If trends persist, the data service provider estimates once the first wave of forbearances hit their 12-month expiration in March 2021, there