June 30, 2020 Weekly Report

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Highlight of the Week

Federal Reserve Reveals Bond Purchases

  • There are a total of 794 companies whose bonds will be bought directly by the Fed.
  • Top recipients include Apple, Verizon, AT&T, 3M, Toyota, and Volkswagen.
  • The plan is to purchase $250b in existing debt as well as $500b in newly issued debt.

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Rapid Report:

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Coronavirus updates (as of Monday night)

  • COVID-19 has registered 10.3 million cases and 505,266 deaths worldwide. There are over 5.5 million recovered cases.
  • The US has accounted for over 2.64 million cases and has surpassed 128,000 deaths. The US has registered over 1 million recovered cases.
  • Georgia has almost 77,000 cases and 2,778 deaths.

Verizon Pulls Advertising from Facebook

  • Facebook is facing increasing scrutiny from the NAACP and others for the way it handles hate speech and propaganda.
  • Several other companies, such as Ben & Jerry’s, Patagonia, and REI, have paused their advertising on the platform as well.

16 Cities Propose Divesting Some Police Funds

  • Sparked by recent protests, a number of cities across the country have pledged or proposed plans to divert some assets from the police department to other areas. Advocates are hoping to give more funds to public services such as schools, social workers, and mental health professionals.
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