As Inside Philanthropy wrote just a few days ago, community foundations and local funders around the country have been scrambling to respond as COVID-19 shuts down one aspect of society after another.
The outlook for higher education institutions is shifting to negative from stable as a result of the financial impact of the coronavirus outbreak, according to a recent outlook from Moody’s Investors Service.
The Treasury Department wants to use a crisis-era tool to support money-market funds, joining the Federal Reserve in the fight to keep financial markets working smoothly.
The U.S. dollar surged against major currencies Tuesday as stress in the market for dollar funding outside the U.S. worsened, despite the Federal Reserve’s efforts to boost availability of the greenback globally.
The Federal Reserve said it would inject more than $1.5 trillion of temporary liquidity into Wall Street on Thursday and Friday to prevent ominous trading conditions from creating a sharper economic contraction.