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June 8, 2020

Consumer Confidence is Shattered

Consumer confidence has collapsed amid the coronavirus pandemic and isn’t getting a lift from states re-opening their economies, according to a new report. A Morning Consult […]
June 8, 2020

Economy Will Improve but Remain Distressed

Following April’s record one-month decline, consumer confidence inched upward in May by an insignificant amount, according to the University of Michigan Surveys of Consumers. The Sentiment […]
June 8, 2020

The US Economy is in a Recession

Today, the National Bureau of Economic Research said the U.S. economy peaked in February, ending the longest expansion in U.S. history at 128 months, or about […]
May 19, 2020

Credit Card Spending Down 40%

Spending on JPMorgan Chase & Co. credit cards plunged 40% for the average U.S. family at the start of the coronavirus slowdown, an “enormous” drop that […]
May 19, 2020

Bankers Expect Recession Into 2021

Even as states begin to lift stay-at-home orders in hopes of jump-starting their sagging economies, many banking executives are bracing for a prolonged slowdown that could […]
April 6, 2020

Consumer Expectations Deteriorate in March

Americans increasingly were worried about losing their jobs and expected to curb their growth in spending in the wake of the coronavirus outbreak, a March survey […]
April 6, 2020

Visa Sees Sharp Decline in Consumer Spending – Even Online

Visa once again lowered its outlook for revenue growth in the fiscal second quarter, saying the coronavirus pandemic has led to a sharp decline in cardholders’ […]
March 23, 2020

A Message to Our Clients

We hope this note finds you and your families safe and healthy during this time of turmoil and uncertainty.  Throughout the world, society is taking unprecedented measures […]
March 13, 2020

Banks Ready Disaster Plan in Wake of Coronavirus

Large US banks have begun testing crisis measures in case of a broader coronavirus outbreak that prevents staff from going to work, according to banking sources.  […]