COVID-19 threatens the record-long economic expansion and changes the outlook for even well-capitalized and profitable community banks and credit unions.
March 2020 produced a dramatic shift in “business as usual” for these lenders. Many of their customers and employees are now sheltering in place at home. In their communities, businesses deemed non-essential have been shuttered, and local governments are scrambling to address the growing health care needs. In this environment, some community banks and credit unions have closed their branches to protect their staff and the public.
John Toohig, Head of Whole Loan Trading at Raymond James, and Mark Zandi, Chief Economist of Moody’s Analytics have an in-depth conversation about what this all means for the industry.
The COVID-19 virus continues to spread and the economic damage is mounting. Recorded May 2020.
With the rapid deterioration in the global economy as a result of the COVID-19 pandemic, Moody's Analytics presents an update to our economic outlook for the US & Canada.
In this webinar, Mark Zandi and the Moody’s Analytics team answer wide-ranging questions from audience participants stemming from the economic impact of COVID-19.
The apex of the economic blow from the coronavirus in the U.S. is occurring now.
COVID-19 has ignited an unprecedented global economic crisis, that has been extraordinarily difficult to gauge, generating a blizzard of wide-ranging questions
With the rapid deterioration in the global economy as a result of the COVID-19 pandemic, Mark Zandi and the Moody's Analytics team present an update to our economic outlook.
We answer questions submitted in response to our recent webinar.
The onus is now on governments to quickly provide substantial financial support to hard-pressed households and businesses. How much economic damage COVID-19 ultimately does will depend on the trajectory of the virus—and how governments respond.
COVID-19 has created a global economic tsunami that is now hitting the United States and Europe with full force.
The coronavirus is an existential threat to the record-long global economic expansion. The Centers for Disease Control and Prevention says it is likely that COVID-19 will become a global pandemic. If the CDC's warning comes to pass, then recession will be difficult to avoid.