Banking and credit

FILE - In this March 3, 2020 file photo, Federal Reserve Chair Jerome Powell speaks during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington. The Federal Reserve will issue the first loans under its groundbreaking Main Street Lending program in a “few days,” Powell said Friday, May 29. (AP Photo/Jacquelyn Martin)
1010 WINS Newsroom
May 29, 2020 - 2:21 pm
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell acknowledged Friday that the Fed faces a major challenge with the launch in the coming days of a program that will lend to companies other than banks for the first time since the Great Depression. The Fed's Main Street Lending is geared toward...
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FILE- In this file photo taken Thursday, April 30, 2020, Women carrying their children lineup to receive vegetables from the Jan Hofmeyer community services in the Vrededorp neighborhood of Johannesburg. South Africa is struggling to balance its fight against the coronavirus with its dire need to resume economic activity. The country with the Africa’s most developed economy also has its highest number of infections — more than 19,000. (AP Photo/Jerome Delay, file)
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May 28, 2020 - 7:40 pm
UNITED NATIONS (AP) — The U.N. chief on Thursday warned the largest gathering of world leaders since the coronavirus pandemic began that it will cause “unimaginable devastation and suffering around the world,” with historic levels of hunger and famine and up to 1.6 billion people unable to earn a...
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A medical worker collects a swab sample from a journalist for a COVID-19 test before the National People's Congress closing session and the Chinese Premier press conference in Beijing, on Thursday, May 28, 2020. (AP Photo/Ng Han Guan)
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May 27, 2020 - 10:25 pm
The Latest on the coronavirus pandemic. The new coronavirus causes mild or moderate symptoms for most people. For some, especially older adults and people with existing health problems, it can cause more severe illness or death. TOP OF THE HOUR: — US deaths from coronavirus surpass 100,000 mark. —...
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1010 WINS Newsroom
May 27, 2020 - 2:57 pm
WASHINGTON (AP) — The Federal Reserve detailed Wednesday what most of the nation is already acutely aware of: Economic activity fell sharply around the country in April and May as measures to combat the spread of the coronavirus outbreak took hold. Drawing on reports from its 12 regions, the Fed...
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In this image provided by the New York Stock Exchange, New York State Gov. Andrew Cuomo, center, applauds as he rings the opening bell of the New York Stock Exchange with with New York Stock Exchange President Stacey Cunningham, right, Tuesday, May 26, 2020 in New York. The NYSE allowed a limited number of traders back to the floor with social distancing guidelines and face masks. (Courtney Crow/New York Stock Exchange via AP)
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May 26, 2020 - 4:48 pm
Stocks closed higher on Wall Street Tuesday, driving the S&P 500 and Dow Jones Industrial Average to their highest levels in nearly three months as optimism over the reopening of the economy overshadowed lingering worries about the coronavirus pandemic. The S&P 500 rose 1.2%, for a time...
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FILE - In this Aug. 7, 2019, file photo, Reserve Bank of India (RBI) Governor Shaktikanta Das speaks during a press conference in Mumbai, India. India’s central bank on Friday, May 22, 2020, cut its key interest rate to 4% to revive the economy severely hit the coronavirus outbreak and a two-month lockdown. Reserve Bank of India Governor Das also said India's gross domestic product in financial 2020-21 was expected to have negative growth. (AP Photo/Rajanish Kakade, File)
1010 WINS Newsroom
May 22, 2020 - 11:04 am
NEW DELHI (AP) — India’s central bank on Friday cut its key interest rate to 4% to counter the blow to the economy from the coronavirus pandemic and a lockdown meant to contain it. Reserve Bank of India Governor Shaktikanta Das forecast that the economy will contract in fiscal 2020-21. He did not...
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FILE - In this March 3, 2020, file photo, Federal Reserve Chair Jerome Powell pauses during a news conference, to discuss an announcement from the Federal Open Market Committee, in Washington. Efforts to forecast the U.S. economy's path to recovery from the current deep downturn face “a whole new level of uncertainty," Federal Reserve Chairman Jerome Powell said Thursday, May 21. (AP Photo/Jacquelyn Martin, File)
1010 WINS Newsroom
May 21, 2020 - 3:43 pm
WASHINGTON (AP) — Efforts to forecast the U.S. economy's path to recovery from the current deep downturn face “a whole new level of uncertainty," Federal Reserve Chairman Jerome Powell said Thursday. Not only is there the difficulty predicting how the coronavirus pandemic will play out, it is also...
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In this Nov. 25, 2019 file photo Federal Reserve Bank of Boston President Eric Rosengren, left, speaks during a round table discussion at Silver Lane Elementary School, in East Hartford, Conn. (AP Photo/Steven Senne, file)
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May 20, 2020 - 4:28 pm
WASHINGTON (AP) — The president of a regional Federal Reserve bank that will oversee a groundbreaking business lending program said Wednesday that he thinks a slower-than-expected recovery from the economic downturn would lead companies to seek critical support from the program. In an interview...
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FILE - This Feb. 18, 2020, photo shows a real estate sign in front of a home for sale in San Francisco. An estimated 4.1 million Americans have their mortgage in forbearance, according to data released Monday, May 18, by the Mortgage Bankers Association.(AP Photo/Jeff Chiu, File)
1010 WINS Newsroom
May 20, 2020 - 12:11 pm
Suddenly out of work or making due with reduced paychecks, an estimated 4.1 million Americans have sought forbearance on their mortgage, according to data released Monday by the Mortgage Bankers Association. That's a staggering number, and experts anticipate more homeowners will seek this...
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In this Saturday, May, 2, 2020, photo, a man uses banknotes to pay for his purchases at the mall in Basra, Iraq. The coronavirus pandemic has reawakened debate about the continued viability of what has been the physical lifeblood of global economies: paper money and coins. (AP Photo/Nabil al-Jurani)
1010 WINS Newsroom
May 20, 2020 - 2:07 am
BEIRUT (AP) — In troubled times, people have been known to hoard currency at home — a financial security blanket against deep uncertainty. But in this crisis, things are different. This time cash itself, passed from hand to hand across neighborhoods, cities and societies just like the coronavirus,...
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