Even though the CARES Act provides a stimulus package of $2.39 trillion, or 11.4% of gross domestic product — along with a relaxing of rules surrounding payment deferrals and loan modifications by banking regulators — that may not be enough to blunt the continued decline in economic activity. … READ MORE >
banking
Declining demand for commercial loans points to continued uncertainty
Demand for commercial loans softened dramatically in the third quarter, the Federal Reserve Bank of New York reported, signaling that businesses continue to be cautious amid simmering trade tensions and slowing economic growth. … READ MORE >