The main cause of stress for consumers is money and finances, according to 47% of respondents in the second annual “Money Mindset” survey by Huntington Bank, beating out the 40% who cited the ongoing pandemic as their main stressor.
The path of the U.S. economy will continue to depend on the course of the coronavirus and progress in vaccination, according to members of the Federal Open Market Committee.
Outstanding household debt rose by 1.4% in the fourth quarter of 2020, rising by $206 billion to land at $14.56 trillion, the Federal Reserve Bank of New York reported today.
The nation’s top bank economists observed that the outlook for credit quality and availability rebounded for both consumers and businesses after bottoming out last summer, according to the American Bankers Association’s new Credit Conditions Outlook released today.
As expected, the Federal Reserve will continue to keep its target range for the federal funds rate at zero to 0.25% to support the U.S. economy during this “challenging time,” the Federal Open Market Committee said today.
While the economy remains under the influence of the COVID-19 pandemic, the nation’s top bank economists expect the U.S. economy in 2021 to see its strongest growth in about 20 years.
The coronavirus pandemic continues to cause economic hardship across the country and poses considerable risk to the economic outlook over the medium term, according to members of the Federal Reserve’s Federal Open Market Committee.
Small businesses are exploring online lending, with 44% saying they looked into the option in the past year and 25% procuring an online loan during that time, according to the JPMorgan Chase Business Leaders Outlook survey released yesterday.
In a Wall Street Journal op-ed this week, two Treasury Department officials made the case for an additional round of Paycheck Protection Program funding, noting that “its success has been pivotal in supporting the recovery.”
The Federal Reserve will continue keep its target range for the federal funds rate at zero to 0.25% as the economy remains well below levels of output seen at the start of the year, even as economic recovery continues, the Federal Open Market Committee said today.