Money
Federal Reserve Chair Jerome Powell Addresses Current Economic Issues: For Some, a Reversal of Economic Fortune
While the coronavirus economic shock appears to be the largest on record, the fiscal response has also been the fastest and largest response for any postwar downturn ... At the Fed, we will continue to use our tools to their fullest until the crisis has passed and the economic recovery is well under way. Recall that the Fed has lending powers, not spending powers. A loan from a Fed facility can provide a bridge across temporary interruptions to liquidity, and those loans will help many borrowers get through the current crisis. But the recovery may take some time to gather momentum, and the passage of time can turn liquidity problems into solvency problems. Additional fiscal support could be costly, but worth it if it helps avoid long-term economic damage and leaves us with a stronger recovery. This tradeoff is one for our elected representatives, who wield powers of taxation and spending. more »
Kaiser Family Foundation: Eligibility for ACA Health Coverage Following Job Loss; What Is ESI?
What are coverage options for people losing ESI? Eligibility for health coverage for people who lose ESI (employee Sponsored insurance) depends on many factors, including income while working and family income while unemployed, state of residence, and family status. Some people may be ineligible for coverage options, and others may be eligible but opt not to enroll. Some employers may temporarily continue coverage after job loss (for example, through the end of the month), but such extensions of coverage are typically limited to short periods. People who lose employer-sponsored insurance (ESI) may become eligible for Medicaid or subsidized coverage through the Affordable Care Act (ACA) marketplaces. more »
Legislative Update May 4-8, 2020: Office to Enforce & Protect Against Child Sexual Exploitation; Paid Sick Leave and Required Paid Family and Medical Leave, Eating Disorder Prevention, Indigenous Women
Bills Introduced: A bill to prohibit the expenditure for an abortion of federal funds authorized or appropriated for preventing, preparing for, or responding to the COVID-19 pandemic; A bill to establish the Office to Enforce and Protect Against Child Sexual Exploitation, A bill to provide emergency funding for caseworkers and child protective services; A bill to allow 2020 recovery rebates with respect to qualifying children over the age of 16; A resolution recognizing the heritage, culture, and contributions of American Indian, Alaska Native, and Native Hawaiian women in the United States more »
One State's Approach: Nourish New York Initiative and Rent Relief; Funding Will Be Distributed Regionally to Food Banks and Emergency Food Providers Based on Need
Through Nourish New York, the State is providing funding to New York food banks so they can purchase excess products, such as fruits and vegetables, from New York farmers and surplus dairy products from New York dairy manufacturers, to distribute directly to communities. Food banks are expected to receive funding and begin purchasing this week. Emergency food providers can spend the money allocated to them by doing any of the following: Setting up food-drive through events/giveaways; Distributing dairy vouchers that can be redeemed in grocery stores for products like cheese, yogurt, milk, sour cream, and butter, throughout the state, and/or;
Purchasing products directly from New York dairy/food manufacturers for their feeding programs. Gov. Cuomo extends rent relief moratorium, no evictions through August 20 and security deposits may be used to pay rent.. more »