U.S. companies reeling from coronavirus fallout, Fed survey shows

FILE PHOTO: Vacant room lights form a heart on the Hyatt at Olive 8 hotel, where normal operations are suspended due to the coronavirus disease according to their website, as efforts continue to help slow the spread of COVID-19 in Seattle, Washington, U.S. March 30, 2020. REUTERS/Jason Redmond/File Photo

The Fed’s survey was completed mostly in March but included some of the first week of April. During that time, the United States went from worrying about the risks posed by the virus to most of the country being under some form of stay-at-home order and millions losing their jobs at breakneck speed. The central bank has taken unprecedented action since early March to try and keep credit flowing to businesses and households by shoring up liquidity in financial markets. It has launched numerous crisis-fighting programs, slashed interest rates to near zero and is resuming large-scale asset purchases.

“No sector was spared,” the Philadelphia Fed said. “Rapidly rising joblessness has not made hiring easier, as contagion fears and child care needs keep workers at home. Prices tend to be falling, but the wage path is muddled, and firm outlooks are clouded by uncertainty.” The increasing pain felt by U.S. firms is being closely watched by Fed policymakers and economists as they try to forecast how quick the economic rebound will be once social distancing controls are lifted and businesses can reopen.

Reeling, rolling, rocking, quaking, shaking, teetering, slipping, stumbling, praying, crumbling, salvaging, crying, and still in shock from the fall out of a slow, inept start to handling it. VoteBlue2020 realDonaldTrump

If it was lockdown USA before a month, then USA not to loss too many lives.

U.S. Human Beings reeling from Coronavirus fallout and we don't need the Fed to tell us this

Thank you Captain Obvious. Yet the Democrats keep playing politics and will not fund help for them and American workers who need support. They are putting their socialist agenda and political games before people who elected them.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Opportunity still seen in U.S. corporate debt market after Fed boostU.S. corporate debt has already rebounded on the back of the Federal Reserve's unprecedented support for the market, but investors like PIMCO still see value in some top-shelf names, saying the risk of default is lower than current prices indicate.
Source: Reuters - 🏆 2. / 97 Read more »

Stock-market bull warns investors not to ‘chase the rally’ as ‘epic battle’ between Fed and coronavirus unfoldsCanaccord Genuity chief market strategist is no stranger to bullish stock-market calls, but after a remarkable run for U.S. stocks over the past few weeks,... Gold is terribly dealing with bears. I doubt they even venture it 1st this is NOT a typical “bear market.(Panic) 2nd the market has not reflected the working class economy for decades (faux relief) 3rd the global pandemic is making money for Insiders (rally) 4th Taxpayers bail out banks & corporation already paying net $ 0% (frustration) Main Street America experiences massive loss of income,feels pain & uncertainty, and gets a tiny Congress stimulus (basically a good’ol “addaboy,hang in there”). Wall Street America experiences massive wealth protection, feels euphoria & confidence, and gets a Huge Fed Bailout.
Source: MarketWatch - 🏆 3. / 97 Read more »