US | Fading federal pandemic support is hurting households

Payments for unemployment benefits will fall sharply in August, rebound in September but drop again in October in the absence of a new coronavirus relief package.

What you will learn:

  • President Donald Trump’s executive orders are providing even less relief to households than initially expected in the absence of a more comprehensive fiscal aid package.
  • The minutes provided no further clues about when the Fed might adopt more explicit forward guidance. 
  • We estimate the lapse in federal supplemental unemployment benefits will reduce in August by at least $45 billion, an annualized plunge of $550 billion.
  • Renters are increasingly at risk, with as many as 15 million estimated to be vulnerable to eviction.

Topics: Trump, United States, Household debt, Fiscal stimulus, Federal Reserve, Coronavirus, US economy, North America

Fading federal pandemic support us hurting households - iPad