Recession Ends Almost as Fast as it Began and Powell on 60 Minutes

In this week’s PeerIQ Industry Update they cover how the recession has ended almost as fast as it began with all states opening in some capacity; what comes next is almost impossible to predict, equity markets have recovered a great deal and credit markets are still pretty frozen; the four biggest takeaways from Fed Chair Jerome Powell on 60 minutes were expect more fiscal and monetary support, don’t anticipate negative rates, focus on market functioning and concentration of pain; older Americans are transacting digitally at rates no one expected with stores being closed and curbside pickup the only option other than online orders; Shopify has jumped into the point of sale market, new data from LendingTree shows people asking for loan forbearance even though they can pay their bills the latest from PeerIQ’s consumer loans in hardship tracker. Peer IQ

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