Assistant Secretary Michael Faulkender Economy Statement for the Treasury Borrowing Advisory Committee of the Securities Industry and Financial Markets Association

Assistant Secretary Michael Faulkender Economy Statement for the Treasury Borrowing Advisory Committee of the Securities Industry and Financial Markets Association | site |



(November 2, 2020) - - On November 2, 2020, the U.S. Department of the Treasury published the following information:


Assistant Secretary Michael Faulkender Economy Statement for the Treasury Borrowing Advisory Committee of the Securities Industry and Financial Markets Association

The United States was in an historically strong economic position before the SARS-CoV-2 pandemic. Real GDP rose 2.3 percent in 2019 on a Q4/Q4 basis and was poised to maintain a solid pace of growth until the pandemic. In January and February, nonfarm payroll employment rose an average of 232,500 per month, the unemployment rate hovered near the five-decade low of 3.5 percent, and the labor force participation rate reached a six-year high of 63.4 percent. In March, however, th...

Federal Reserve Board Announces Technical Change to Support the U.S. Economy and Allow Banks to Continue Lending to Creditworthy Households and Businesses | site |





(March 23, 2020) - - Today, the Board of Governors of the Federal Reserve System published the following information:

The Federal Reserve Board on Monday announced a technical change to support the U.S. economy and allow banks to continue lending to creditworthy households and businesses. The interim final rule will phase in gradually, as intended, the automatic restrictions associated with a firm's "total loss absorbing capacity," or TLAC, buffer requirements, if the levels decline. TLAC is an additional cushion of capital and long-term debt that could be used to recapitalize a bank if it is in distress. The change will facilitate the use of firms' buffers to promote lending activity to households and businesses. Over the past decade, U.S. banks of all sizes have built...

Federal Reserve Announces Extensive New Measures to Support the Economy | site |




(March 23, 2020) - - Today, the Board of Governors of the Federal Reserve System published the following information: The Federal Reserve is committed to using its full range of tools to support households, businesses, and the U.S. economy overall in this challenging time. The coronavirus pandemic is causing tremendous hardship across the United States and around the world. Our nation's first priority is to care for those afflicted and to limit the further spread of the virus. While great uncertainty remains, it has become clear that our economy will face severe disruptions. Aggressive efforts must be taken across the public and private sectors to limit the losses to jobs and incomes and to promote a swift recovery once the disruptions abate. The Federal Reserve's role is guided by its mandate from Congress to promote maximum employment and stable prices, along with its ...

Federal Reserve Board Expands its Program of Support for Flow of Credit to the Economy by taking Steps to Enhance Liquidity and Functioning of Crucial State and Municipal Money Markets| site |



(March 20, 2020) - - Today (March 20, 2020), the Board of Governors of the Federal Reserve System published the following information: The Federal Reserve Board on Friday expanded its program of support for the flow of credit to the economy by taking steps to enhance the liquidity and functioning of crucial state and municipal money markets. Through the Money Market Mutual Fund Liquidity Facility, or MMLF, the Federal Reserve Bank of Boston will now be able to make loans available to eligible financial institutions secured by certain high-quality assets purchased from single state and other tax-exempt municipal money market mutual funds. The attached term sheet details the assets that are eligible under the MMLF program, as well as additional information. More deta...

February 20, 2020 U.S. Internal Revenue Service Webinar focuses on Gig Economy| site |




(February 12, 2020) - - Today (February 12, 2020), the U.S. Internal Revenue Service (IRS) published the following information:

WASHINGTON — The Internal Revenue Service is holding a free webinar designed to help gig workers, employers, contractors and other businesses understand their tax reporting responsibilities.

This free 60-minute webinar will take place on Thursday, February 20 at 2 p.m. Eastern Time. It is open to gig workers, businesses, tax professionals and anyone else interested in the tax rules that affect the gig economy. Tax pros can earn one continuing education credit.

Topics to be covered include:

• What is the gig economy?
• How does a gig worker know whether they are an employee or self-employed?
• Business expenses and recordkeeping.
• Rules for home rentals.
• Tax payment options.

The webinar will feature a...

Acting Assistant Secretary Diana Furchtgott-Roth Economy Statement for the Treasury Borrowing Advisory Committee of the Securities Industry and Financial Markets Association

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(October 29, 2018) - - Today the U.S. Department of the Treasury published the following "Acting Assistant Secretary Diana Furchtgott-Roth Economy Statement for the Treasury Borrowing Advisory Committee of the Securities Industry and Financial Markets Association" document: The U.S. economy grew 3.5 percent in the third quarter, according to last week’s advance estimate. This pace confirmed the economy’s strong growth in the wake of the Administration’s tax reforms, deregulatory measures, and other business-friendly policies. Real GDP is forecast to grow 3.2 percent in 2018, which would be the first calendar year of growth above 3 percent since 2005. Further accelerations in private consumption and a strong build in p...

U.S. Small Business Administration Head says President Trump’s Gift Underscores His Commitment to a Strong, Growing Economy

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Washington, DC - - (October 3, 2018) - - Today, Linda E. McMahon, head of the U.S. Small Business Administration (SBA), made the following statement upon receiving President Donald J. Trump’s salary donation to boost programs aimed at partnering with veterans and growing our nation’s workforce: “President Trump understands the needs of our nation’s small businesses, and he is committed to putting forward strong policies that promote meaningful and innovative economic growth. The SBA is proud to use this generous gift to further our programs that focus on partnering with small businesses, so they may confidently create or expand their business. Specifically, this gift will assist the SBA with creating a seven-month intensive entrepreneur training program for...

The U.S. Department of Transportation and the Environmental Protection Agency Propose Fuel Economy Standards for MY 2021-2026 Vehicles

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The U.S. Department of Transportation published the following: Washington, DC - - (August 2, 2018) - - Today, the U.S. Department of Transportation’s National Highway Traffic Safety Administration (NHTSA) and the U.S. Environmental Protection Agency (EPA) released a notice of proposed rulemaking, the Safer Affordable Fuel-Efficient (SAFE) Vehicles Rule for Model Years 2021-2026 Passenger Cars and Light Trucks (SAFE Vehicles Rule), to correct the national automobile fuel economy and greenhouse gas emissions standards to give the American people greater access to safer, more affordable vehicles that are cleaner for the environment. The SAFE Vehicles Rule is the next generation of the Congressionally mandated Corporate Average Fuel Economy (CAFE) and Ligh...

Help Wanted: Strong Economy Means More Employers Can Hire and Retain Experienced Workers

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New In Depth AARP Survey ‘Value of Experience’ Includes Insights on Workers, Employers, Entrepreneurs, Age Bias, and More


Washington, DC - - (August 2, 2018) - - According to a new AARP survey of experienced workers, nearly 9 in 10 work for financial reasons, but approximately 8 in 10 either enjoy or feel useful doing their work. And among those who plan to retire, over 1 in 4 plans to start a business or earn money in some independent way, such as a gig economy job. Given employers’ need for talent, it makes great business sense to hire experienced workers, as demonstrated by additional AARP research. “With rich work histories, varied experiences and expertise, older workers want to work, they’re ready to work, and they need to work,” said AARP Vice President of Financia...

Interior Secretary Zinke Announces $35.8 Billion Added to U.S. Economy in 2017 due to National Park Visitation

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(Photo courtesy U.S. Department of the Interior)

Report Finds Parks Support 306,000 jobs Mostly in Hotels, Restaurants, Transportation, Recreation


Washington, DC - - (April 25, 2018) - - As the nation celebrates National Park Week, U.S. Secretary of the Interior Ryan Zinke today announced that visitor spending in communities near national parks in 2017 resulted in a $35.8 billion benefit to the nation’s economy--a nearly $1 billion increase from 2016-- and supported 306,000 jobs.

According the annual National Park Service report, 2017 National Park Visitor Spending Effects, more than 330 million visitors in 2017 spent $18.2 billion in the communities near national parks. Of the 306,000 jobs supported by that spending,...

Economy Statement for the Treasury Borrowing Advisory Committee of the Securities Industry and Financial Markets Association

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(April 30, 2018) - - Today, the U.S. Department of the Treasury published the following: Over the past four quarters, real GDP has grown by 2.9 percent, the most rapid pace since early 2015. At nearly nine years old, the current expansion is set to become the second-longest stretch of continuous economic growth in the postwar period. Although the pace of U.S. economic growth moderated to an annual rate of 2.3 percent in the first quarter, compared with 2.9 percent in the fourth quarter, a rebound is expected in coming months and overall strong growth is forecast for the year as a whole. A slowdown in consumption affected economic performance in the first quarter, partly owing to a return of durable goods spending to more normal levels after the hurricane-rel...