Taxes

February 19, 2021

A Potential Foreclosure Wave for 2021?

While analysts have expressed concern foreclosures could overwhelm servicers when forbearance ends, new data suggest that outcomes will be manageable in most areas. The foreclosure wave […]
February 19, 2021

Americans Left Banks Out of Borrowing Binge

Last year was a banner one for debt, but it didn’t look that way for big banks.  Large lenders saw their loan books shrink in 2020 […]
October 1, 2020

Small Business Activity Stagnant in August

In August, there were 23.7% fewer businesses open relative to January. This represents an increase in small business closures of 1.2%age points since July. A spike […]
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

Fed Warns of Widespread Business Failures

Federal Reserve officials warned the virus outbreak and a partial shutdown of the U.S. economy would result in a decline in the current quarter of historic […]
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 […]