Banking and credit

FILE - In this Tuesday, March 3, 2020 file photo, Federal Reserve Chair Jerome Powell pauses during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington. The Federal Reserve says it will keep buying bonds, Wednesday, June 10, to maintain low borrowing rates and support the U.S. economy in the midst of a recession. And it says nearly all the Fed’s policymakers foresee no rate hike through 2022. .(AP Photo/Jacquelyn Martin, File)
June 10, 2020 - 6:32 pm
WASHINGTON (AP) — Confronted with an economy gripped by recession and high unemployment, the Federal Reserve signaled Wednesday that it expects to keep its key short-term interest rate near zero through 2022. At the same time, the Fed said it will keep buying about $120 billion in Treasury and...
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A woman reacts as she is sprayed with disinfectant inside a chamber as a precaution against the new coronavirus outbreak before entering a shopping mall in Jakarta, Indonesia, Tuesday, June 9, 2020. As Indonesia's overall virus caseload continues to rise, the capital city has moved to restore normalcy by lifting some restrictions this week, saying that the spread of the virus in the city of 11 million has slowed after peaking in mid-April. (AP Photo/Dita Alangkara)
June 09, 2020 - 1:29 pm
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Tuesday related to the national and global response, the work place and the spread of the virus. ________________________ LOSING LUSTER: The coronavirus pandemic has forced...
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FILE - In this Tuesday, March 3, 2020 file photo, Federal Reserve Chair Jerome Powell pauses during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington. The Federal Reserve says it will keep buying bonds, Wednesday, June 10, to maintain low borrowing rates and support the U.S. economy in the midst of a recession. And it says nearly all the Fed’s policymakers foresee no rate hike through 2022. .(AP Photo/Jacquelyn Martin, File)
June 08, 2020 - 4:19 pm
WASHINGTON (AP) — The Federal Reserve is expanding the range of companies that will qualify for its soon-to-begin Main Street Lending Program, in which the Fed will lend directly to individual companies for the first time since the Great Depression. Under the changes announced Monday, the Fed will...
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FILE -- In this Thursday, March 12, 2020 file photo the President of European Central Bank Christine Lagarde looks up prior to a press conference following a meeting of the ECB governing council in Frankfurt, Germany. The European Central Bank has boosted its pandemic emergency support program by 600 billion euros to 1.35 trillion euros ($1.5 trillion) in an effort to keep affordable credit flowing to the economy during the steep downturn caused by the virus outbreak. (AP Photo/Michael Probst, file)
June 04, 2020 - 9:03 am
FRANKFURT, Germany (AP) — The European Central Bank has boosted its pandemic emergency support program by an unexpectedly large 600 billion euros to 1.35 trillion euros ($1.5 trillion) in an effort to keep affordable credit flowing to the economy during the steep downturn caused by the virus...
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June 03, 2020 - 2:06 pm
WASHINGTON (AP) — The Federal Reserve has approved an expansion of its $500 billion emergency program to support state and local governments. The expansion will allow all states to have at least two cities or counties eligible to tap the Fed support program regardless of population. The Fed board...
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FILE - In this March 3, 2020 file photo, Federal Reserve Chair Jerome Powell speaks during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington. The Federal Reserve will issue the first loans under its groundbreaking Main Street Lending program in a “few days,” Powell said Friday, May 29. (AP Photo/Jacquelyn Martin)
May 29, 2020 - 2:21 pm
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell acknowledged Friday that the Fed faces a major challenge with the launch in the coming days of a program that will lend to companies other than banks for the first time since the Great Depression. The Fed's Main Street Lending is geared toward...
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FILE- In this file photo taken Thursday, April 30, 2020, Women carrying their children lineup to receive vegetables from the Jan Hofmeyer community services in the Vrededorp neighborhood of Johannesburg. South Africa is struggling to balance its fight against the coronavirus with its dire need to resume economic activity. The country with the Africa’s most developed economy also has its highest number of infections — more than 19,000. (AP Photo/Jerome Delay, file)
May 28, 2020 - 7:40 pm
UNITED NATIONS (AP) — The U.N. chief on Thursday warned the largest gathering of world leaders since the coronavirus pandemic began that it will cause “unimaginable devastation and suffering around the world,” with historic levels of hunger and famine and up to 1.6 billion people unable to earn a...
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A medical worker collects a swab sample from a journalist for a COVID-19 test before the National People's Congress closing session and the Chinese Premier press conference in Beijing, on Thursday, May 28, 2020. (AP Photo/Ng Han Guan)
May 27, 2020 - 10:25 pm
The Latest on the coronavirus pandemic. The new coronavirus causes mild or moderate symptoms for most people. For some, especially older adults and people with existing health problems, it can cause more severe illness or death. TOP OF THE HOUR: — US deaths from coronavirus surpass 100,000 mark. —...
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Workers build a protective barrier as construction resumed on the New York Islanders' new arena, located adjacent to Belmont race track, during the current coronavirus outbreak, Wednesday, May 27, 2020, in Elmont, N.Y. Long Island became the latest region of New York to begin easing restrictions put in place to curb the spread of the coronavirus as it entered the first phase of the state's four-step reopening process. Gov. Andrew Cuomo announced Tuesday that Nassau and Suffolk counties could begin reopening parts of their economy after nonessential businesses were shuttered for two months. (AP Photo/Kathy Willens)
May 27, 2020 - 4:17 pm
WASHINGTON (AP) — Businesses across the country surveyed by the Federal Reserve don’t appear to share the Trump administration's optimism about a rapid economic recovery starting this summer. The Federal Reserve released a report Wednesday that draws on business contacts from the central bank's 12...
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FILE - In this Aug. 7, 2019, file photo, Reserve Bank of India (RBI) Governor Shaktikanta Das speaks during a press conference in Mumbai, India. India’s central bank on Friday, May 22, 2020, cut its key interest rate to 4% to revive the economy severely hit the coronavirus outbreak and a two-month lockdown. Reserve Bank of India Governor Das also said India's gross domestic product in financial 2020-21 was expected to have negative growth. (AP Photo/Rajanish Kakade, File)
May 22, 2020 - 11:04 am
NEW DELHI (AP) — India’s central bank on Friday cut its key interest rate to 4% to counter the blow to the economy from the coronavirus pandemic and a lockdown meant to contain it. Reserve Bank of India Governor Shaktikanta Das forecast that the economy will contract in fiscal 2020-21. He did not...
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