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At least 5 R.I. banks to offer low-interest loans via Main...

PROVIDENCE – Five banks with locations in Rhode Island have confirmed to Providence Business News that they will participate in the Main Street Lending...
RETAIL TEAM: Amy ­Arruda, senior vice president of retail banking at Washington Trust, right, with Melanie Connelly, vice president of retail banking, at the bank’s Westerly headquarters. / PBN PHOTO/ELIZABETH GRAHAM

Deferred loans, waived fees part of pandemic response for banks

The consumer messaging of banks and credit unions through the COVID-19 pandemic has been consistent: we’re here for you. When it comes to bank fees...

Powell warns that long downturn would mean severe damage

WASHINGTON (AP) – Federal Reserve Chairman Jerome Powell warned Tuesday that the U.S. economy faces a deep downturn with “significant uncertainty” about the timing...
THE FEDERAL RESERVE told Congress that it intends to utilize its full range of tools to combat the economic impact of the COVID-19 pandemic. / AP FILE PHOTO/MANUEL BALCE CENETA

Fed: Will use ‘full range of tools’ to boost economy

WASHINGTON (AP) – The Federal Reserve has promised to use its “full range of tools” to pull the country out of a deep recession...

Financial stress may help spread coronavirus

Preventing deaths from COVID-19 depends on those who are showing symptoms seeking treatment – which also allows authorities to track down whom they came...
ECONOMIC ACTIVIY in the New England region was said to have continued its COVID-19-related decline into May in the most recent Beige Book report from the Federal Reserve. / COURTESY FEDERAL RESERVE

Beige Book: N.E. economy continued COVID-19-related decline into May

PROVIDENCE – Economic activity in New England continued to decline into May, according to the Federal Reserve’s Beige Book published Wednesday. The survey of local...
FEDERAL RESERVE Chariman Jerome Powell said that the Fed's lending programs for medium-sized businesses and state and local governments would begin operating by June 1. / AP FILE PHOTO/JACQUELYN MARTIN

Fed’s Powell says new lending programs to launch by June 1

WASHINGTON (AP) – Federal Reserve Chair Jerome Powell said Tuesday that the Fed's lending programs for medium-sized businesses and state and local governments would...

What can the Fed do to help the U.S.

The United States Federal Reserve has committed to do everything it can to save the financial system and the American economy from collapse. Most recently,...
ECONOMIC ACTIVITY in New England was said to have slowed significantly due to COVID-19, however not all sectors were impacted equally.

Fed’s Beige Book sees start of N.E.’s COVID-19 economic slowdown

PROVIDENCE – Economic activity in New England slowed "markedly" from March into April, as expected, with certain sectors hit worse than others, the Federal...
THE FEDERAL RESERVE reported Wednesday that manufacturing output dropped 6.3% in March. / AP FILE PHOTO/TED S. WARREN

Factory shutdowns near WWII demobilization levels in U.S.

WASHINGTON (AP) – American industry collapsed in March as the pandemic wreaked havoc on the United States economy. Manufacturing and overall industrial production posted...

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