Highlight of the Week
House to Approve Covid-19 Relief Package
-$1.9T package includes direct checks, jobless aid, packages for schools, and funds for vaccine distribution.
-Some lawmakers have concerns about the debt burden and inflation. Today, the $21.9 T debt is the same as the entire economic output of the U.S.
Rate Curves
Rapid Report:
Coronavirus Updates (as of Wednesday morning)
-COVID-19 has registered 118 million cases and 2.6 million deaths worldwide.
-The US has accounted for over 29.8 million cases and has surpassed 540 k deaths.
-Georgia has surpassed 1 million cases and 17,418 deaths.
JP Morgan Hires New Fintech Leader
-JP Morgan has hired former HSBC executive Jeremy Balkin as head of fintech and innovation for wholesale payments. Balkin will be involved in decisions to invest or partner with companies to help further strategy in the fintech space.
-The appointment follows a trend as large banks continue investing in innovation and fintech to improve digital offerings for business and retail clients.
Goldman Sachs Unveils $10 Billion Push to Invest in Black Women
⁻Goldman plans to invest in housing, healthcare, and other programs with a stated goal to narrow the wealth gap between Black women and others.
⁻Last year, JP Morgan made a $30 B pledge to bridge the racial wealth gap, which included an extension of billions of dollars in loans to Black and Latino home buyers and small business owners over the next five years.
