U.S. Economic News
April 8, 2020
U.S. News
According to the Wall Street Journal, nearly a third of U.S. apartment renters missed their rent payments the first week of April, according to data from the National Multifamily Housing Council. While some renters may be temporarily protected from eviction by local and federal housing laws, the figures are an early indication of how many Americans are struggling to make necessary payments during the pandemic. WSJ
The Washington Post reports that major U.S. retailers could be left out of the Fed’s lending program to businesses hurt by the pandemic due to the requirement that firms have investment grade bond ratings in order to participate. Big retailers have argued that they should be allowed to participate given the millions of Americans they employ, while many analysts point out that the stimulus lifeline was not meant to prop up businesses already struggling before the crisis. WaPo