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 coronavirus and efforts to mitigate its impact are having a transformative impact on many aspects of economic life, intensifying trends like shopping online rather than visiting brick-and-mortar stores and increasing the incidence of working from home. Indeed, many tech giants have already made working from home a permanent option for employees. Working from home, or telecommuting, is […] Read more
The FED Said The Federal Reserve Bank of Atlanta’s new Beige Book report details the coronavirus pandemic’s far-reaching economic toll across the Southeast. Contacts in the Sixth Federal Reserve District said economic activity continued to decline from April to early May. Almost no sector was spared. Pay cuts and reduced hours were widespread. Tourism and hospitality contacts […] 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 Workforce CurrentsStuart AndreasonMarch 18, 2020 As coronavirus 2019 (COVID-19) spreads around the world and across the United States, many policymakers and public health officials are encouraging employers to tell workers to work remotely or to stay home when they or their family members are sick. There are significant questions, though, about how […] Read more
The FED Said Tao Zha is executive director of the Federal Reserve Bank of Atlanta’s Center for Quantitative Economic Research. He is a U.S. citizen who was born in China, and his research interests include macroeconomics, econometrics, and the Chinese economy. Economy Matters staff writer Karen Jacobs recently spoke with Zha about China. Karen Jacobs: The trade dispute between […] Read more
The FED Said Despite a generally robust economy, skills training is critical amid long-term and cyclical labor force challenges For years, Goodwill of North Georgia ran a successful program training unemployed and underemployed people in highway construction. That made sense: during the 1980s and ’90s, metropolitan Atlanta added about 1,000 lane-miles of freeways. When highway […] Read more
The FED Said The Federal Reserve Bank of Atlanta’s Beige Book survey of regional economic conditions reported that economic activity in the Southeast softened slightly in recent weeks. Published September 4, the report says business contacts reported slowing activity during late July and August in sectors including manufacturing, hospitality, and residential real estate. Although sales remained steady, […] Read more
The FED Said Millennials are often described in terms of certain behaviors and attitudes. However, findings from recent Federal Reserve reports suggest that in some ways, this generation—which includes those born from the early 1980s to the mid-1990s—may not be that much different from previous generations, especially when it comes to spending. According to the […] 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 Overall Economic Activity Economic activity expanded at a modest pace overall from April through mid-May, a slight improvement over the previous period. Almost all Districts reported some growth, and a few saw moderate gains in activity. Manufacturing reports were generally positive, but some Districts noted signs of slowing activity and a more […] 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