A recent Fitch Ratings report finds that most U.S. airports are reaching pre-pandemic passenger trends despite COVID-19 variants earlier this year. Since its last report, Fitch has revised its rating outlook for nearly all domestic airports from negative to stable. Increased debt issuances are also signaling a return to normality with many airports already coming to market in 2022.
On April 6, the Biden administration announced it will extend the student loan repayment pause through August 31, making it the sixth extension since the moratorium was introduced at the onset of the pandemic.
The Wall Street Journal reports that the federal student loan moratorium has impacted around 37 million borrowers by accumulating roughly $195 billion in student loan debt. According to a report released on March 22 by the Federal Reserve Bank of New York, a rise in delinquencies is expected once the freeze is lifted and payments resume May 1.
According to the National Federation of Independent Business (NFIB), their monthly Small Business Optimism Index fell by 1.8 points to 97.1 in January, its lowest in 11-months. Inflation remained a leading concern, as were increased input costs – particularly wages – which business owners have raised (50%) or expect to raise (27%) in the coming three months
National Mortgage News reports that in late December 2021, a group of attorneys general from 20 states made allegations that certain mortgage servicers failed to offer borrowers a recently added Federal Housing Administration loan modification option as required.
The "Great Resignation" is sparking upheaval in the job market as the COVID-19 pandemic drags on, and no group has been impacted more than women. New LinkedIn data finds that the number of job transitions for women surged in 2021.
ADP’s National Employment Report, released September 1, showed private sector employment with greatest gains in leisure and hospitality (201,000) and education and health (59,000), with total non-farm increase at 374,000.
The Small Business Administration’s (SBA) 504 program is expected to run out of funds to support new small business loans as early as September 3. Classified as the SBA’s second largest loan program its purpose is to increase the lending capacity of lenders and provide small businesses with reliable access to capital.
Minutes released from the Federal Reserve’s July 27-28 meeting indicate officials are nearing agreement to begin scaling back the central bank’s bond buying program before the end of this year. The Fed announced back in December 2020 that it planned to keep buying at least $120 billion in treasury and mortgage-backed securities each month to help stimulate the economy.