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.