Covid Supercharges Federal Reserve as Backup Lender to the World

Jannie Delucca

When the coronavirus brought the entire world financial system to a halt in March, it fell to the U.S. Federal Reserve to maintain the wheels of finance turning for companies across America.

And when funds stopped flowing to a lot of banks and businesses outside America’s borders—from Japanese creditors making bets on U.S. corporate credit card debt to Singapore traders needing U.S. dollars to pay out for imports—the U.S. central bank stepped in yet again.

The…

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Men's Wearhouse Owner Files for Bankruptcy

The mother or father organization of Men’s Wearhouse submitted for individual bankruptcy on Monday to restructure its $one.5 billion in credit card debt following the coronavirus pandemic derailed its turnaround strategy. Personalized Manufacturers, which also owns Jos. A. Financial institution and K&G Trend Superstore, is the most recent of a […]