Zero-COVID, zero growth?
For the foreseeable future, a zero-COVID policy for China will make it difficult for the country to achieve its official economic growth target of about 5.5 percent.
Browsing: Coronavirus
SBA OIG calls out lack of guidance to lenders on PPP fraud
The U.S. Small Business Administration failed to provide lenders with “sufficient, specific guidance to effectively identify, track, address and resolve potentially fraudulent [Paycheck Protection Program] loans,” a new report by the SBA Office of the Inspector General found.
SBA Releases Strategic Plan for FY 2022-2026
The Small Business Administration’s strategic goals for FY 2022-2026 include providing an equitable and customer-centric delivery of programs to small businesses, building resilient businesses and a sustainable economy, and implementing strong stewardship of resources, according to a strategic plan released this week.
SBA to Offer Additional Deferment for COVID EIDL Program Loans
The Small Business Administration today announced that it will extend the deferment timeframe for COVID-related Emergency Disaster Injury Loans to a total of 30 months.
Jelena McWilliams on Her Legacy at the FDIC
As the FDIC chief prepared to resign before her term was up, she discussed the agency’s progress on innovation, financial inclusion and more.
Podcast: Exit Interview with Jelena McWilliams, Part 1
The outgoing FDIC chairman discusses bank innovation, FDITech, post-COVID exams and the agency’s COVID response in part one of this interview.
FOMC to End Asset Purchases by Early March
The Federal Reserve will continue to reduce the monthly pace of asset purchases and bring them to an end in early March, according to the latest Federal Open Market Committee statement issued today.
The Post-Pandemic Fraud War: How to Play Offense
The pandemic has created many new challenges and changed the fraud risk landscape—perhaps permanently. It has also provided a training ground for a new generation of fraud attackers.
Supreme Court Strikes Down Vaccine Mandate for Large Employers
The Supreme Court today blocked the employer vaccine mandate issued by the Occupational Safety and Health Administration, which would have required employers with 100 or more employees to ensure staff are vaccinated or tested weekly for COVID-19, among other requirements.
Beige Book: Economic Activity Hampered by Labor Shortages, Supply Chain Issues
Economic activity grew at a modest pace in the final weeks of 2021 as many parts of the country reported constrained growth due to supply chain disruptions and labor shortages, according to the Federal Reserve’s first Beige Book release of the year.