The government’s emergency spending to help businesses stay afloat isn’t enough to save the economy. Businesses need credit to manage day-to-day operations and to grow – and business lending from banks has dried up during the pandemic. If it doesn’t resume quickly, we’ll likely face a long and deep recession.
The practice of restricting neighborhoods to certain races or incomes was a significant part of America’s segregated past. Discrimination in lending and housing is generally less overt than it used to be, but it’s still a problem.