U.S. Economic News

March 25, 2020

U.S. Economic Indicators

New orders of manufactured durable goods rose 1.2% in February after rising 0.1% (revised) in January. Excluding transportation, new orders fell 0.6% last month after rising 0.6% the month before. Census Bureau Report

U.S. News

The Washington Post reports that Senate leadership and White House officials have come to an agreement on the $2 trillion coronavirus stimulus package that the Senate is set to vote on later this afternoon. The legislation would create a $367 billion loan program for small businesses, establish a $500 billion lending fund for industries and states, significantly boost unemployment insurance benefits, and send direct payments of $1,200 to many Americans. WaPo

According to the Financial Times, companies are drawing down credit lines at unheard of speeds, drawing at least $124 billion from credit lines in just the last three weeks. While banks have been able to handle the torrent of capital request so far, lending in other areas may suffer if bank capital becomes severely constrained by revolving credit obligations. FT