Sunday, January 17, 2021

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ECONOMIC ACTIVITY in the New England region was said to have improved modestly in recent months, but contacts in the region said that they feel uncertainty about the region's economic future, according to the most recent Beige Book report from the Federal Reserve.

Beige Book: N.E. improves in July and August, but uncertainty lingers

PROVIDENCE – Economic activity in New England continued to improve modestly in July and August, according to the Federal Reserve’s Beige Book report released...
THE FEDERAL RESERVE announced that it plans to keep rates near zero even after inflation has exceeded the Fed’s 2% target level. Above, Fed Chairman Jerome Powell. / AP FILE PHOTO/JACQUELYN MARTIN

Fed: Rates to stay ultra-low even after inflation picks up

WASHINGTON (AP) – The Federal Reserve announced a significant change Thursday in how it manages interest rates by saying it plans to keep rates...

Local lenders report slow start to Main Street Lending Program

PROVIDENCE – If the outpouring of applications for the Paycheck Protection Program amounted to a flood initial interest in the new Main Street Lending...

Fed sees dim economic outlook as virus squeezes economy

WASHINGTON (AP) – The Federal Reserve expressed concern Wednesday that the viral outbreak will act as a drag on the economy and hiring in...

Beige Book: N.E. businesses continue to have ‘considerable uncertainty’ on economy

PROVIDENCE – Economic activity in New England picked up somewhat in the second half of May and all of June, the Federal Reserve’s Beige...
RHODE ISLAND's second quarter tax revenue was projected to decline between $287 million and $482.4 million year over year, depending on the rate of unemployment in the state. / AP FILE PHOTO/ANDREW HARNIK

Boston Fed sees R.I. Q2 tax revenue drop of at least...

PROVIDENCE – The Federal Reserve Bank of Boston on Thursday projected Rhode Island’s state tax revenue will decline between $287 million and $482.4 million...

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...

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