Covenant relief…
(liquidity crisis vs solvency crisis) pic.twitter.com/r3rmdstf6z
— Callum Thomas (@Callum_Thomas) June 16, 2020
Powell warns of ‘significant uncertainty’ about the recovery and says small businesses are at risk
- Fed Chairman Jerome Powell warned that “significant uncertainty remains about the timing and strength of the recovery.”
- The central bank leader made the remarks during the first day of his semiannual testimony before Congress.
- They echoed the tone he expressed last week after the Federal Open Market Committee meeting.
- He added a note of caution about small businesses being imperiled by the slow move back from a recession that began in February.
As eviction bans across the country start to lift, the US could face an eviction ‘apocalypse’