Highlight of the Week
U.S. Freezes Nearly $9.5 Billion Afghanistan Central Bank Assets
-The U.S. sanctions on the Taliban mean they cannot access any funds. A sizeable portion of which are in accounts with the N.Y. Federal Reserve and U.S banks.
-The freeze came a day after Taliban leaders declared victory over Afghanistan, which followed the Biden administration’s decision to withdraw U.S. troops from the country.
Rate Curves
Rapid Report:
Published Report Details Savings Shortage
-According to a report published by the Consumer Federation of America, just 1 in 3 of the lowest-income families have a savings account. The typical account, as measured by the median, has just $1,010.
-Overall, 52% of U.S. households have a savings account, with the typical account holding $5,000. The silver lining is that account ownership has grown slightly among the bottom fifth of families over the last 30 years, from 27% to 30%.
Georgia Surpasses 1 Million Coronavirus Cases
-As of Tuesday, the state of Georgia has now seen over 1 million cases, 19,044 confirmed deaths, and 69,367 hospitalizations.
-The super-contagious delta virus has pushed the state over the mark, as it spreads through mostly unvaccinated individuals. More than 90% of June COVID-19 cases and deaths were among individuals who were not fully vaccinated.
Las Vegas Raiders to Require Proof of Vaccination to Attend Games This Fall
-The Raiders became the first NFL team to mandate vaccinations, with other teams to follow suit. Fans will no longer be required to wear masks at games.
