Markets

The Fed begins purchases of up to $250 billion in individual corporate bonds

The Federal Reserve announced Monday it will begin purchases of individual corporate bonds. The move comes nearly three months after first unveiling the Secondary Market Corporate Credit facility and one month after it began buying corporate-credit ETFs through the program. The central bank will “create a corporate bond portfolio that […]
The Fed begins purchases of up to $250 billion in individual corporate bonds
Markets

Consumers grew more optimistic about jobs and finances in May, New York Fed says

Consumers grew more optimistic toward earnings growth and labour-market health in May, the Federal Reserve Bank of New York said in a Monday report. Expectations for personal income and spending growth improved, while the probability of Americans falling behind on minimum debt payments declined. Consumer expectations for one-year inflation growth […]
Consumers grew more optimistic about jobs and finances in May, New York Fed says
Markets

Relief loans are going to areas with pre-existing bank relationships instead of most infected regions, Fed economists find

Paycheck Protection Program, or PPP, loan approvals are more concentrated in areas with existing small business-bank partnerships instead of regions hit hardest by the coronavirus, Federal Reserve Bank of New York economists wrote Wednesday. Virus hotspots including New York, New Jersey, Michigan, and Pennsylvania are receiving fewer PPP loan approvals […]
Relief loans are going to areas with pre-existing bank relationships instead of most infected regions, Fed economists find