Washington, DC…The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals. The coronavirus outbreak is causing tremendous human and economic hardship across the United States and around the world. The virus and the measures taken […]
Bethesda, MD…Hospitalized patients with advanced COVID-19 and lung involvement who received remdesivir recovered faster than similar patients who received placebo, according to a preliminary data analysis from a randomized, controlled trial involving 1063 patients, which began on February 21. The trial (known as the Adaptive COVID-19 Treatment Trial, or ACTT), sponsored by the National Institute […]
Washington, DC…Real gross domestic product (GDP) decreased at an annual rate of 4.8 percent in the first quarter of 2020 (table 1), according to the “advance” estimate released by the Bureau of Economic Analysis. In the fourth quarter of 2019, real GDP increased 2.1 percent. The GDP estimate released today is based on source data […]
Sacramento, CA…Governor Newsom announced in his press conference today four stages to reopen the economy. While he did not include any specific dates, he mentioned that he believes “we are only weeks” away from moving to Stage 2. He said he believes we are “months” away from Stages 3 and 4. Below is a quick […]
New York, NY…S&P Dow Jones Indices today released the latest results for the S&P CoreLogic Case-Shiller Indices, the leading measure of U.S. home prices. Data released today for February 2020 show that home prices continue to increase at a modest rate across the U.S. More than 27 years of history are available for these data series, […]
Washington, DC…Speech in Support of H.R. 266 – Paycheck Protection Program Replenishment on April 23, 2020 Madam Speaker: When we passed the Paycheck Protection Program, I warned that serious flaws would deliver a windfall to businesses that do not need it, at the expense of those that do. That is exactly what happened, exhausting the […]
Washington, DC… Administrator of the U.S. Small Business Administration Jovita Carranza and U.S. Treasury Secretary Steven T. Mnuchin issued the following statement today on the resumption of the Payroll Protection Program (PPP). “We are pleased that President Trump has signed into law the Paycheck Protection Program and Health Care Enhancement Act, which provides critical additional […]
Sacramento, CA…The California Department of Motor Vehicles today announced it is waiving late fees and penalties for vehicle registration, extending expiring identification cards, temporary operating permits and motor carrier permits. With authority granted under today’s executive order signed by Governor Gavin Newsom, the DMV is: • Waiving late fees and penalties for vehicle registration renewals due between […]
Washington, DC… In response to the state of California and Attorney General Xavier Becerra filing a motion for a preliminary injunction and other pleadings today regarding the Central Valley Project, Bureau of Reclamation Commissioner Brenda Burman issues the following statement: “At no other time in modern history has the State of California taken such ill-founded […]
Sacramento, CA…Today, California Governor Gavin Newsom announced plans to allow hospitals and health systems to resume delayed medical care for Californians – such as heart valve replacements, angioplasty and tumor removals, and key preventive care services, such as colonoscopies – which were deferred as the state’s health care delivery systems prepared for a surge of […]
