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Bloomberg: Fed Flashes $1T Warning for Businesses Hit by Covid-19

March 05, 2021, 07:42 AM
Filed Under: Industry News

Bloomberg reported the Federal Reserve and other bank regulators are signaling new warnings for the U.S. economy, stating businesses hardest hit by Covid-19 are sitting on $1 trillion of debt and a high percentage of the debt is at risk of going bust with the riskiest lending largely issued by nonbanks, regulators say.

According to the Bloomberg report, real estate, entertainment, transportation, oil and gas, and retail were cited as particular problem areas.

To read the full Bloomberg report, click here.

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