The U.S. economy faces unprecedented risks from the coronavirus if fiscal and monetary policy makers don’t rise to the challenge, Federal Reserve Chair Jerome Powell said while pushing back against the notion of deploying negative interest rates. “The recovery may take some time to gather momentum, and the passage of time can turn liquidity problems… Continue reading The Fed Warns of Unprecedented Economic Risks
Tag: Covid-19
New York Fed Finds Big Deterioration in Consumer Views in April
Americans’ outlook for the job market and their personal finances suffered substantial deterioration in April as the coronavirus crisis left much of the U.S. economy on lockdown, new data from the Federal Reserve Bank of New York said. In its latest Survey of Consumer Expectations, the bank said Monday that respondents’ median expectation of losing… Continue reading New York Fed Finds Big Deterioration in Consumer Views in April
COVID-19 Could Reduce Employer Health Care Costs Due to Care Deferral
COVID-19 could reduce employer health care costs by as much as 4% in 2020, as medical care for noninfected patients has declined during the pandemic, according to a new Willis Towers Watson analysis of large, self-funded employers. The analysis updates a similar study conducted last month that projected employer costs could rise by as much… Continue reading COVID-19 Could Reduce Employer Health Care Costs Due to Care Deferral
As States Look to Reopen, CFOs Prioritize Workplace Safety and Employee Health: PwC
The fourth release of PwC’s COVID-19 CFO Pulse Survey reveals 77% of US chief financial officers (CFOs) anticipate changing workplace safety measures upon returning to on-site work. As employers focus on protecting employees, 65% anticipate reconfiguring work sites to promote physical distancing and 52% anticipate changing and/or alternating shifts to reduce exposure. In addition, half… Continue reading As States Look to Reopen, CFOs Prioritize Workplace Safety and Employee Health: PwC
Southern Storms Indifferent to the Quarantine
Severe Storms in the South Every year, states in the Deep South face tornadoes, severe thunderstorms and flash floods. Depending on their proximity to the Gulf, some states have hurricane season to look forward to as well. 2020 has not been kind to Dixie so far. Tornadoes swept through Tennessee, Alabama and Mississippi recently, resulting… Continue reading Southern Storms Indifferent to the Quarantine
Cruise Ship Coverage Uncertain After Coronavirus Debacle
The Last Ships Coming In On April 20, the last three cruise ships sailing in the world came into port in Marseilles, Los Angeles and Barcelona, respectively. The worldwide coronavirus pandemic has affected the cruise ship industry in a devastating way. With no one cruising the world’s oceans now for the first time in recent… Continue reading Cruise Ship Coverage Uncertain After Coronavirus Debacle
Sedgwick Introduces Critical “Back to Business” Support Services
Sedgwick, a leading global provider of technology-enabled risk, benefits and integrated business solutions, today announced a customizable suite of services designed to assist businesses as they look to move forward and resume operations safely in the wake of the coronavirus (COVID-19) pandemic. Every industry and organization has been presented with challenges of business continuity and… Continue reading Sedgwick Introduces Critical “Back to Business” Support Services
New Drama on BI Insurance, Auto Refunds, Higher Premiums and Legal Battles
California Insurance Commissioner ordered insurance companies to issue automobile policy refunds for March and April due to lower auto collision risk during the shelter-in-place. USAA voluntarily issued $520 million in refunds to insurers due to lower auto accidents. Meanwhile, premiums on other policies are expected to increase substantially and there are major legal battles on… Continue reading New Drama on BI Insurance, Auto Refunds, Higher Premiums and Legal Battles
Berkshire Hathaway Will Shut Some Businesses, Stay Cautious in Coronavirus ‘Typhoon’
Warren Buffett’s Berkshire Hathaway Inc. will close some smaller businesses and is positioning itself conservatively as it rides out the coronavirus pandemic, Berkshire Vice Chairman Charlie Munger said in an article published on Friday. “We’re like the captain of a ship when the worst typhoon that’s ever happened comes,” the 96-year-old Munger said in an… Continue reading Berkshire Hathaway Will Shut Some Businesses, Stay Cautious in Coronavirus ‘Typhoon’
Trump’s Guidelines to Reopen Economy Put Onus on Governors
President Trump outlined broad new federal guidelines for opening up the country that will put the onus on governors to decide how to restart the economies in their states amid mounting fallout from the coronavirus outbreak. The new guidelines come as lawmakers and business leaders press the administration to expand virus testing, and days after… Continue reading Trump’s Guidelines to Reopen Economy Put Onus on Governors