Tag: Federal Reserve
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US economy recovering fast post-pandemic
The economy continues to rebound as employers step up hiring and GDP rises. The number of people applying for unemployment benefits reached its lowest since the pandemic started. The Associated Press has the story: Economy rebounding as unemployment decreases, GDP rises and home sales spike WASHINGTON (AP) — Powered by consumers and fueled by government…
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Banks to hugely profit as ‘bad’ loans become ‘good’
Banks are starting to move billions of dollars worth of “bad” loans back into the “good” pile where they can now be considered part of their profits. The money had been temporarily placed there due to the pandemic, as a reserve in case loans went bad. The Associated Press has the story: Banks’ money in…