Yuka Hayashi

speaker

247 appearances 9 recordings 1 series first heard Jul 2019 last heard Aug 2020

Yuka Hayashi’s voice in public audio — every appearance, attributed to the second.

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Appearances

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WSJ Your Money Briefing · Why the Small-Business Stimulus Loans Don't Work for All · 1 May 2020 podcast

So while businesses are waiting for money to arrive, they are quickly running out of funds.

So now they are desperately...

hoping to use whatever money they can get in terms of government assistance in order to pay their bills.

It certainly did.

After Congress passed the legislation to set up this program, the administration officials from the Treasury Department and the Small Business Administration said,

put together a package that includes all the details on how this program is run.

And when those details were announced several days later, they included this cap on non-payroll expenses, which surprised a lot of people.

So businesses that have had a close relationship with banks, and banks happen to be the ones that are willing to help small businesses in this case, they tend to have had easier access to funds.

Remember that under this program, so many small businesses, I think millions of them, are still waiting to get their funds.

And a big reason for that is some banks have so many applicants that it's taking them a long time to get to a lot of their customers.

If we were to have a program that would cover both payroll costs and non-payroll costs, like rent expenses, that would probably double the size of the fund.

The current program right now is $660 billion.

So double of that is $1.3 trillion.

It's a huge amount of money.

Thanks for having me.

WSJ Your Money Briefing · Record Credit Card Debt Raises Alarms · 12 Feb 2020 podcast

The ratio of debt in serious delinquency aged up to 5.3 percent, and that's for the general population.

But for young people ages between 18 and 29, the percentage of debt in serious delinquency went up to 9.4 percent.

That's quite a high number.

The levels that we've seen in the past two quarters or so have been higher than during the financial crisis and soon after.

In the last quarter, we saw credit card debts rising to $930 billion.

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