Federal Reserve Chair Jerome H. Powell during a speech on March 3, 2020 in Washington, DC. Mark Makela/Getty Images The recession caused by the coronavirus pandemic is playing out across stark — and widening — fault lines in America. Lower earners, those with less schooling, women and minority groups have borne the brunt of the economic
Texas grocer Central Market turned salad bars and hot bars into packaged food displays during the pandemic. Source: Central Market Grocery stores have shut down self-serve salad bars during the pandemic. They’ve taken away displays of fresh olives and dips. And they’ve replaced giant kettles of ready-to-ladle hot soup with sealed to-go containers. The deli
null Getty PPP borrowers and their advisors are scrambling to determine how to manage their businesses and expenses to best facilitate loan forgiveness to benefit their businesses and employees. These two objectives are sometimes at odds, and the new 24-week testing period election, which most borrowers can meet, will have a powerful impact on business conduct.
Economic Security Planning, Inc. Today’s column addresses questions about early spousal benefits before full retirement benefits, survivor benefits, which month to start benefits to avoid early filing reductions, unpaid Social Security and Medicare taxes and benefits on an ex’s record after remarriage. Larry Kotlikoff is a Professor of Economics at Boston University and the founder
Study shows consumer concerns about health will change the way homes are designed post COVID During the pandemic, the way we live in our homes has drastically changed. Builders are taking note. … [+] Stock Photo My current home style includes a 25-foot gray cord that snakes its way from the router, along the staircase
ljubaphoto Travel insurer Seven Corners has started two new products tailored to vacations in the age of coronavirus: one policy specifically covers medical expenses incurred due to Covid-19 infection while traveling overseas, and another helps motorists as road trips replace flights and cruises as the preferred means of summer and fall travel. “Travel trends, in general,
A person on a scooter rides past a JPMorgan Chase & Co. bank branch in New York, U.S., on Thursday, June 11, 2020. Jeenah Moon | Bloomberg | Getty Images It’s the banking world’s version of the rich getting richer. A record $2 trillion surge in cash hit the deposit accounts of U.S. banks since
The drug hydroxychloroquine, pushed by U.S. President Donald Trump and others in recent months as a possible treatment to people infected with the coronavirus disease (COVID-19), is displayed at the Rock Canyon Pharmacy in Provo, Utah, May 27, 2020. George Frey | Reuters The National Institutes of Health has halted its clinical trial of the anti-malaria drug hydroxychloroquine
Traders could be in for a wild ride Friday because of a couple technical factors. The S&P 500 will have its first rebalancing of the year at Friday’s close, more than three months after the market’s wild swings forced S&P Dow Jones Indices to delay this traditional quarterly event. Index rebalancing has often been associated
Getty Social Security’s already-precarious financial condition will become worst because of the current economic downturn. The question many economists and policy analysts are trying to answer is: How bad will the system’s financial condition be? The trustees of Social Security issued their latest annual report in April, but the report didn’t include the downturn. The
COLUMBUS, OH – MAY 12: Shoppers explore a mostly empty mall. (Photo by Matthew Hatcher/Getty Images) Getty Images Should Congress manipulate the timing of business tax benefits to support firms in the midst of the COVID-19 economic slump? And if so, how? That debate may be the next big battleground as Congress begins to focus
Alcheme San Diego Allison McCulloch When someone refers to med spa amenities, they’re usually talking about unique treatments or lemon water in the waiting room— not about design. But at Alcheme’s newest location at One Paseo, the design is an amenity that creates an ambiance of relaxation and elevates the overall experience. In 2017, the
Student loan borrowers could see big changes over the next few months. pcess609 Former Vice President Joe Biden made an announcement in April that was mostly drowned out by more and more alarming developments of the coronavirus pandemic: As president, he would forgive undergraduate federal student loan debt picked up at public colleges for those
The U.S reported some 30,000 new coronavirus cases on Friday, the highest number of daily infections recorded since May 1, according to data compiled by Johns Hopkins University. New cases across the country are surging faster than ever, especially in states in the South, West and Midwest. Officials are warning that some clusters of infections
The Federal Reserve is seeing high demand for its business loan initiative put in place to help smaller companies get through the coronavirus-induced recession, Boston Fed President Eric Rosengren said Friday. As the Main Street lending facility wraps up its first full week of operation, Rosengren reported brisk interest on the borrowing side amid what
TOPLINE Despite a minor sell-off on Friday, stocks have rebounded from the coronavirus recession strongly in recent months—too strongly, according to research from Vital Knowledge founder Adam Crisafulli, who believes investors are too optimistic about a quick economic recovery and the market is now overvalued. Investors aren’t paying “nearly enough attention to the enormous permanent
Getty So, there’s some good news: The Internal Revenue Service (IRS) is processing paper tax returns. And then there’s some not-so-good news: The estimated backlog of unopened IRS mail stands at 11 million. That’s the report from Sunita Lough, IRS Deputy Commissioner for Services and Enforcement, and is consistent with statements made at the beginning
Close-up Of A Businesswoman’s Hand Holding Magnifying Glass Over House Model Over Desk Getty Normally when people talk about preparing for a home inspection, they’re looking at things from the buyers perspective. While there’s no denying that the home inspection is an important event for the buyer, it’s ultimately something that sellers should prepare for,
Some investors see recent volatility as a way to get rich quick. Trying to outsmart the market can end very badly. Last week, 20-year-old trader Alexander Kearns using the Robinhood platform committed suicide after a series of risky options trades left him deep in the red. In the note to his family, he said he had “no
Attorney General William Barr told the top federal prosecutor in Manhattan, Geoffrey Berman, that he was fired in a letter Saturday amid a power struggle over who will fill one of the most important federal law enforcement positions in the nation. This is breaking news. Please check back for updates