The Biggest US Banks Have Some Bad News About the American Economy
Monday, July 20, 2020 in Press
First the good news: The biggest US banks have had time to brace themselves for a wave of losses.
The bad news: They are still bracing themselves to withstand a wave of losses. Their earnings this week suggest the worst is yet to come for the American economy, and that Washington may need to provide even more support for workers and businesses.
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Effective immediately, the Government Finance Officers Association (GFOA) is asking all industry affiliates to immediately stop using the common four-letter acronym most often associated with the Comprehensive Annual Financial Report. Instead, GFOA recommends referring to the report by either the full name or by using a shortened format that does not include the four-letter acronym. For instance, the “Annual Report” would be acceptable.Read more