Covenant relief… (liquidity crisis vs solvency crisis)

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’