Fed Keeps Rates at Zero to Support Economy
With the coronavirus pandemic causing tremendous strain on human and economic activity, the Federal Open Market Committee today voted unanimously...
Economy
Fed to Hold Rates Near Zero; ‘Very Close’ to MSLP Term Sheet Release
With the coronavirus pandemic continuing to cause significant economic disruptions and sharp spikes in unemployment, the Federal Reserve will maintain...
First Quarter GDP Plunges 4.8%, Contracting for the First Time Since 2014
Real GDP contracted at a seasonally adjusted annual rate of 4.8% during the first quarter of 2020, according to the...
SBA to Resume Taking PPP Applications on Monday at 10:30 a.m. EDT
The Small Business Administration will resume taking Paycheck Protection Program loans via its E-Tran platform on Monday morning at 10:30...
ABA Data Bank: Economic Impact Payments Extend a Lifeline to Households
More than three out of four respondents said the economic impact payments included in the CARES Act would either temporarily...
A Tale of Two Countries: The Rapid Urbanization of America
Prior to COVID-19, rural and urban America’s economic paths were diverging. Where they will go next remains to be seen.
New Home Sales Decline 15.4 Percent in March
New single-family home sales fell to a seasonally adjusted annual rate of 627,000 in March, according to the U.S. Census...
Senate Clears $320B in Additional Funding for Paycheck Protection Program
After bipartisan negotiations, the Senate this afternoon unanimously passed legislation to provide more than $320 billion in new funding for...
Nichols: Delaying More PPP Funds Risks ‘Irreparable’ Harm to Small Biz
In a letter to congressional leadership today, ABA President and CEO Rob Nichols called for Congress to move “expeditiously” to...
ABA Data Bank: Bank Economists Expect Deep Q2 Contraction, Followed by Second Half Rebound
Economists' forecasts are based on the public health models projecting that the U.S. COVID-19 pandemic peaks in May.
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