When the new figures for initial jobless claims are announced this week, they will jump above the cyclical high of 665,000 set during the recovery from the Great Recession and the all-time high of 695,000 set in October 1982. … READ MORE >
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As businesses contend with coronavirus, liquidity becomes a top concern
Financial institutions should assess all options of their short- and moderate-term liquidity. By understanding the liquidity needs of customers, financial institutions will be able to plan for the increased borrowing demand while mitigating the impact on their own financial statements. … READ MORE >
Fed takes robust action to backstop the economy and financial markets
The Federal Reserve moved aggressively on Monday to mitigate what is going to be a severe disruption in the American economy by committing to an open-ended quantitative easing program and the construction of the Main Street Business Lending Program to support small and medium-sized firms. … READ MORE >
Saving small and medium-size business: temporary lending facility needed now
If the fiscal and monetary authority do not act with temporary lending relief for small and midsize companies, soon a disaster will encompass Main Street businesses through no fault of their own—this disaster is entirely preventable. … READ MORE >
Insurance industry girds for major impact from coronavirus
The coronavirus pandemic has turned everyday life upside down for nearly every American. Many schools have closed and in certain areas residents have been ordered to stay in their homes. As its impact is felt across the economy, the insurance industry will not be spared. … READ MORE >
How middle market retailers can position themselves to survive coronavirus, and Amazon
Amazon’s suspension of non-essential products through at least April 5 will leave the door open for other retailers that have the flexibility to focus on the categories that shoppers will not be able to find on Amazon. … READ MORE >
Can hotels become hospitals? Thinking creatively about how to put empty space to work
Hotel companies in the United States are imploring Washington for relief amid the escalating cancellations because of the coronavirus pandemic. Industry leaders face seemingly impossible decisions as revenues have all but disappeared while significant fixed expenses remain. … READ MORE >
Just how deep is the supply shock? West Coast ports tell the story.
West Coast port activity implies that the supply shock affecting the domestic economy is broad and deep. This strongly suggests a sharp decline in consumption and industrial activity as firms struggle to acquire supplies to make final goods and consumers pull back because of a lack of finished goods on the shelves. … READ MORE >
For family offices, coronavirus presents a new challenge, and chance to reposition
Like any industry sector, family offices are facing challenges in managing the coronavirus crisis, but they also have the opportunity to prepare for the eventual rebound. … READ MORE >
Jump in initial jobless claims signals an impending recession
The data is likely the first sign of the catastrophic disruption to normal life and an impending economic recession caused by the spread of the coronavirus. … READ MORE >