The Coronavirus Aid, Relief and Economic Security (CARES) Act signed into law on Friday, March 27, 2020, provides various options for small and midsize businesses facing liquidity challenges from the COVID-19 crisis. The three options included under the act include the U.S. Small Business ... READ MORE >
coronavirus
Video gaming and esports, already growing in the U.S., see major lift during pandemic
A rise in video gaming since pandemic shelter-in-place orders went into effect could be the wave the esports industry has been looking for to become a more widespread trend in the United States. Until more recently, the growing popularity of esports had been most dramatic in Asian countries. The trend ... READ MORE >
Federal Reserve expands scope of Main Street Lending Program
(This article was updated on Oct. 30 to reflect new terms in the Main Street Lending Program.) With the Main Street Lending Program likely to be launched in the coming days, the Federal Reserve has once again announced updates that expand the scope of the program. The adjustments include lengthening ... READ MORE >
FOMC preview: Expect cautious tone as Fed ponders policy shift
U.S. central bankers find themselves in the most difficult of positions. They need to begin accommodating what will be a multiyear period of large annual operating deficits without appearing to subordinate monetary policy to the needs of the U.S. Treasury. That issue will be on display in multiple ... READ MORE >
Defying gravity: The growing disconnect between the real economy and surging equity markets
There is a growing disconnect between the real economy and equity valuations that, if sustained, will result in slower growth and increased regulation of the investment industry. And that, in turn, will further undermine the legitimate underpinnings of capitalism. The link between the two is broken ... READ MORE >
The coronavirus and civil unrest have highlighted the racial disparity in the American labor market
The economic fallout from the coronavirus and the recent civil unrest have placed an uneasy spotlight on the disparity in employment opportunities among ethnic groups in the United States. While the overall U.S. unemployment rate declined to 13.3% in May, black Americans saw it increase to 16.8%, up ... READ MORE >
Modeling the spread of the coronavirus: Two different worlds in the U.S.
There is an interesting divide in our society that is eerily reminiscent of the monetary and trade policies among nations during the Great Depression. In the 1930s, nations that maintained the gold standard and adopted protectionist tariffs were slower to recover from the Depression than those that ... READ MORE >
U.S. jobs report: Recalled workers increase by 2.7 million in surprise lift to labor market
The nascent awakening of the U.S. economy in May resulted in 2.7 million workers being recalled to their jobs, 2.5 million jobs created and a decline in the unemployment rate to 13.3%. The impressive number of recalled workers implies three takeaways from the May employment report: The Paycheck ... READ MORE >
Trump administration identifies 5 companies for government support in vaccine effort
Drug developers, academic institutions and government agencies across the globe are investigating more than 100 potential vaccines for the coronavirus. The Trump administration on Wednesday identified a handful of organizations that it believes are the most likely to produce a viable vaccine candidate, ... READ MORE >
Initial jobless claims fall in most states, but the damage has been done
Almost every state had a decline in initial jobless claims in the last week of May, as a ninth week was added to the trend of decreasing yet still substantial household economic misery. California and Florida were the only two states reporting significant increases in first-time filings for ... READ MORE >