The housing market is largely being driven by a shortage of available housing inventory and … [+] extremely low-interest rates. Xinhua News Agency/Getty Images The housing market has been on fire this year with record-low mortgage rates and a sudden wave of relocations made possible by remote work. Home prices have continued to push new
Month: December 2020
Although a second stimulus plan is still up in the air, the Federal Reserve is determined to push consumer borrowing costs even lower as the economic recovery takes hold — giving everyday Americans a reason to be optimistic. In addition to holding interest rates near zero, Fed Chairman Jerome Powell said Wednesday the central bank will continue
The at-home coronavirus test that recently received emergency clearance from the U.S. Food and Drug Administration may be on the shelves of drugstores as soon as February, according to the developer’s CEO. “We’ll be shipping first product in the beginning of January. That will be ramping up through the months of January, February and March,”
The Federal Reserve on Wednesday made a key adjustment to its efforts to support the economy, while upgrading its outlook for growth. As expected, the Fed held benchmark interest rates near zero following the conclusion of its two-day meeting. Investors were watching whether the Fed would present outcomes-based guidance in which it would state the
I’ve been a shopping expert by trade since 2011. I got my start writing budget-friendly content as a freelancer for a few different websites, then served as the consumer spokesperson for a deal site for three years. After I was laid off in 2015, I set off on my own. So I talk about shopping
People ride scooters past the Marriner S. Eccles Federal Reserve building in Washington, D.C., U.S., on Tuesday, Aug. 18, 2020. Erin Scott | Bloomberg | Getty Images The Federal Reserve dialed up its economic expectations slightly for the end of this year as well as for 2021, according to the central bank’s Summary of Economic
Federal Reserve Chair Jerome Powell prepares for a House Financial Services Committee hearing on “Oversight of the Treasury Department’s and Federal Reserve’s Pandemic Response” in the Rayburn House Office Building in Washington, D.C. on Dec. 2, 2020. Jim Lo Scalzo | Reuters The Federal Reserve has made a move that cements its nod to the
Providence Mayor Jorge Elorza has stated that the city’s Actuarially Required Contribution to the … [+] pension system each year is “unsustainable” and that he fears the city may need to file for bankruptcy in the future if it doesn’t alter pensions or receive an infusion of cash to stabilize its pension system. Boston Globe
PALM BAY, FLORIDA, UNITED STATES – 2020/12/08: People line up to receive food at the Share Your … [+] Christmas food distribution event. (Photo by Paul Hennessy/SOPA Images/LightRocket via Getty Images) SOPA Images/LightRocket via Getty Images One of the major skirmishes in the months-long battle over the fate of a new pandemic relief bill is
Rents fell the most in Midtown Manhattan. getty New York City rents have fallen farther this year than they did during the Great Recession, according to a report released today by real estate listings site StreetEasy. Manhattan rents fell 12.7%, compared to dropping 10% around the recession that started in 2008, with the median asking
A person wears a face mask while carrying shopping bags in Columbus Circle on November 28, 2020 in New York City. Noam Galai | Getty Images More than $766 billion in sales is up for grabs this holiday season, amounting to as much as a 5.2% jump from 2019 levels, according to the National Retail
A Bolt driver in Krakow, Poland. Beata Zawrzel | NurPhoto via Getty Images LONDON — Bolt, a European competitor to ride-hailing giant Uber, said Wednesday it had raised 150 million euros ($182 million) to bolster the safety of its platform through facial recognition and artificial intelligence. The Estonia-based company declined to disclose its valuation but
AST’s corporate headquarters and high-volume manufacturing facility in Midland, Texas AST & Science Special purpose acquisition company New Providence will take next-generation satellite broadband specialist AST & Science public through a SPAC deal that gives the space company an equity value of $1.8 billion, the firm announced on Wednesday. AST will list on the Nasdaq
Getty Images There’s still a chance — though small — that some Medicare beneficiaries could receive some money to help with prescription drug costs. Nearly three months after President Donald Trump announced his intent to send $200 drug-discount cards to millions of people on Medicare, the stalled plan has cleared one big hurdle: An industry
getty Tony Hsieh was known as an innovative and unconventional leader during his time as an early investor in and longtime leader of online shoe retailer Zappos. He was apparently worth hundreds of millions of dollars at his death. Hsieh might also become well-known for key mistakes he made in his retirement and estate planning.
No matter how much time and energy you invest into politics, you probably know student loan debt has become just as much a political issue as a financial one. Both sides of the aisle have suggested some relief for student loan debt, including the Trump Administration’s current halt on payments and interest for most federal
Tacoma, Washington has seen home values appreciate solidly over the last year, while houses are … [+] selling very quickly, with nearly 74% of homes sold going off the market within just two weeks. getty As 2020 nears its end, one of the more interesting developments to observe was how housing markets reacted to the
United is the first commercial airline to fly the first FDA-authorized COVID-19 vaccines to the U.S. thanks to a coordinated effort between cargo, safety, technical operations, flight operations and several other teams at United. On behalf of Pfizer, United operated five cargo-only flights in early December delivering COVID-19 vaccines from Brussels to Chicago. Source: United
Nobel Prize-winning economist Robert Shiller believes the fear of missing out is fading. According to Shiller, the market phenomenon was the major narrative driving the historic rally off the March 23 low — as the world entered the throes of the coronavirus pandemic. But with big gains in the rearview mirror, Shiller isn’t turning bearish.
David Solomon, CEO, Goldman Sachs, speaking at the World Economic Forum in Davos, Switzerland, Jan. 23, 2020. Adam Galacia | CNBC Goldman Sachs CEO David Solomon said that small businesses it surveyed are in dire need of another round of emergency Paycheck Protection Program funding. “They really have needs; 90% of them have exhausted their
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