The FED Said The coronavirus (COVID-19) pandemic has had a shockingly large and swift impact on the U.S. economy since mid-March. And the initial coordinated federal response to the virus was, perhaps, equally swift, as Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act by the end of March. Further evidence of the speed of […] Read more
The FED Said The names are not exactly lyrical. The Primary Market Corporate Credit Facility. The Secondary Market Corporate Credit Facility. The Term Asset-Backed Securities Loan Facility. No doubt, many Americans don’t understand the intricacies of the Federal Reserve’s many moves to keep credit flowing to households and businesses amid the coronavirus pandemic. But the […] Read more
The FED Said Economic activity in the Southeast dropped sharply from the middle of February through March as the COVID-19 pandemic spurred business shutdowns and job losses, according to the Federal Reserve’s latest Beige Book report on regional economic conditions. Across the Federal Reserve Bank of Atlanta’s coverage area, which includes the states of Alabama, Florida, Georgia, […] Read more
The FED Said These are unprecedented times for our country. COVID-19 is affecting the economy, the banking system, and our daily lives. Our thoughts are with all those who are suffering, as well as those assisting them. Just like you, the well-being of our families, employees, and the public is our paramount concern. To this […] Read more
The FED Said What is LIBOR? Globally, the London Interbank Offered Rate (LIBOR) has been used extensively as the benchmark rate for many financial transactions, from derivatives to loans to businesses and consumers. Estimates of U.S. Dollar (USD) denominated LIBOR exposure run as high as $200 trillion. Why is LIBOR going away? Since its inception […] Read more
The FED Said Federal Reserve Bank of Atlanta Summary of Economic Activity Sixth District business contacts reported that economic activity continued at a modest pace from April through mid-May. The outlook among contacts remains optimistic as most firms expect modest growth to continue over the next three to six months. District firms continued to report […] Read more
The FED Said Online lenders occupy a growing slice of the small business market, as an increasing share of firms turn to them to meet financing needs, an annual Federal Reserve report shows. Nationally, 32 percent of small business credit applicants approached online companies in 2018, according to the 2019 Small Business Credit Survey: Report on […] Read more
The FED Said “Location, location, location” is a truism associated with residential real estate. What we’re hearing from our construction contacts could be another sort of truism: “Labor, lumber, lots.” They are referring to the ongoing tight labor market in the construction trades, the skyrocketing price of lumber, and the difficulty of obtaining lots on […] Read more
The FED Said Last summer, we reported that one fifth of firms in the July Survey of Business Uncertainty (SBU) were reassessing capital expenditure plans in light of then-recent tariff hikes and retaliation concerns. Roughly 6 percent had already cut or deferred capital spending as a result of tariff worries. Since then, tariff hikes and trade policy […] Read more
The FED Said As concerns about widening gaps in income and wealth permeate economic policy discussion, the Federal Reserve Bank of Atlanta assembled some of the field’s leading thinkers to explore the roots of inequality from various perspectives. When considering a topic as complex as inequality, economists and policymakers advance numerous questions such as the […] Read more
The FED Said 2017 Small Business Credit Survey: Report on Disaster-Affected Firms Forty percent of firms in FEMA-designated disaster areas reported losses from recent storms. We examine which firms were hit hardest and how heavily they depend on aid and credit to get back in business. The Small Business Credit Survey (SBCS), an annual survey […] Read more
The FED Said (Federal Reserve System) Developments in artificial intelligence (AI) and machine learning (ML) have drawn considerable attention from both the real and financial sides of the economy. The Atlanta Fed’s recent Financial Markets Conference, Machines Learning Finance: Will They Change the Game?, explored the implications of AI/ML for the financial system and public policy. […] Read more
The FED Said (Federal Reserve System) With U.S. unemployment down to levels not seen since 2000, job seekers are gaining the upper hand in the labor market as employers struggle to fill positions across skill levels. Such hiring difficulties are prompting some employers across the Southeast to raise pay. “We’ve been hearing that wage pressure […] Read more
The FED Said (Federal Reserve System) Overall US Economic Activity Economic activity continued to expand across the United States, with 10 of the 12 Federal Reserve Districts reporting moderate or modest growth. The outliers were the Dallas District, which reported strong growth driven in part by the energy sector, and the St. Louis District where […] Read more
The Fed Said The Federal Reserve Bank of Atlanta Across the Southeast, consumer spending is up, and companies continue to have trouble finding qualified workers. Those are some of the findings from the latest Beige Book of economic conditions. Most businesses expect increased activity in the second part of this year despite some uncertainty related to […] Read more