U.S. Economic News
June 19, 2020
U.S. News
The Washington Post reports that small and midsize businesses are struggling to secure loans through the Fed’s new Main Street Lending Program as many banks are unwilling or unsure if they will participate in the program. Although still in its early stages, changes to the program – including lowering the minimum loan size, extending the length of the loan, and offering banks higher fees as an incentive – could encourage participation among banks and businesses. WaPo
Conor Sen writes for Bloomberg Opinion that the United States could soon face shortages or price increases for goods if the rebound in consumption continues to outpace production as the economy reopens. Retail sales rose 17.7% in May, while industrial production only rose 1.4%, presenting a troubling gap as producers struggle to rebalance inventories and accurately assess demand. Bloomberg