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Dimon Urges Business & Government to Use the Pandemic to Create a Fairer WorldMay 19, 2020 - 10:59:50 PDT
Crisis must be ‘a call to action for business and government to think, act and invest for the common good,’ Dimon says
A rising number of office- and apartment-building owners are falling behind on their mortgages, a sign the economic shutdown is harming stabler property types and raising the prospect of widespread industry damage.
The average Social Security check is about $1,400; that’s below the 2019 federal poverty line for a 2-member household. For half of today’s retirees, that check represents more than half of their annual income, and for one in four retiree households, it’s a shocking 90 percent or more of their income.
Monday’s Rally Brought Us to a Prospective P/E Not Seen Since December 2000May 19, 2020 - 09:32:51 PDT
This time, the valuation extreme has been reached at a point when the economic future looks far darker and more uncertain. How can this possibly make sense?
The Market pared back bets on negative interest rates but questions still persist. A chicken and egg scenario involving the Fed has emerged. Who is following whom?
Jerome Powell, Chairman of the Federal Reserve, appeared recently on 60 minutes. Join Mike Maloney as he uncovers the true meaning of what Powell said, and the implications that will follow. This is a very important video, thanks in advance for sharing it with family and friends.
‘We Are Fully Prepared to Take Losses’ on Virus Business Bailouts: MnuchinMay 19, 2020 - 09:03:05 PDT
Treasury Secretary Steven Mnuchin told senators Tuesday that his department and the Fed are “fully prepared to take losses in certain scenarios” on the capital remaining to be distributed from the CARES Act.
Larry Summers Says $100 Billion in Health Investments Key to Rapid RecoveryMay 19, 2020 - 08:02:25 PDT
Former Treasury Secretary Larry Summers says the lack of “fundamental health investments” in the U.S. is threatening to slow the nation’s economic recovery as it emerges from a global pandemic.
Capital formation will be impeded. Lower growth will restrain investment. Financial institutions are likely to be more risk-averse in their lending practices amid a wave of bankruptcies. Leverage will be reduced. Rising protectionism, the disruption of global supply chains, and slashed research and development budgets will hurt total factor productivity.
The pace of homeowners requesting mortgage relief because of the coronavirus pandemic has slowed considerably.
Amid Rising Talk of Negative Rates, Policies in Japan, Europe Get Subtle TweaksMay 19, 2020 - 07:22:22 PDT
After years of applying plenty of stick to commercial lenders unhappy with negative interest rate policies, central bankers in the euro zone and Japan are experimenting with some carrot, too.
China's plans to step up stimulus support for the virus-ravaged economy have promoted a heated debate among economists and advisers over whether the central bank should monetize its fiscal deficit through quantitative easing. China's annual parliament meeting, due to open on Friday, is expected...
As the Federal Reserve pulls out all the stops to bolster credit markets, corporate America is gorging on debt. From Carnival Corp., Marriott International Inc. and Delta Air Lines Inc. to Gap Inc. and Avis Budget Group Inc., many of the companies hardest hit by the coronavirus outbreak...
May 19, 2020 - 06:55:08 PDT
Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin are testifying Tuesday before the Senate Banking, Housing and Urban Affairs Committee. The appearances are the first in what will be quarterly hearings on the CARES Act used to provide rescue funding in response to the coronavirus pandemic. The Fed and Treasury have teamed to provide trillions of dollars in direct funding, loans and liquidity to markets and the real economy.
Watch Live: Powell/Mnuchin Explain To Senate How & Why They Blew Trillions On BailoutsMay 19, 2020 - 06:55:08 PDT
Powell's prepared remarks ahead of his virtual hearing before the Senate Banking Committee were more of the same, with Powell vowing to "to maintain near-zero rates until the economy has weathered the crisis" and repeating the "Fed will use full range of tools to support the economy."
May 19, 2020 - 06:50:39 PDT
Researchers from the top economics school in the United States are warning that they estimate that 42% of the 36.2 million Americans who have lost their jobs over the past 10 weeks will not regain their jobs.
A record drop in housing starts...
With the economic chaos created by coronavirus economic shutdowns and the Federal Reserve creating trillions of dollars out of thin air, there is suddenly a lot of interest in buying gold, both as a safe haven and an inflation hedge.But what is the best way to invest in the yellow metal? Should you buy physical gold? Gold ETFs? Gold stocks? What's the difference? Are there advantages or disadvantages to each of these options?
Global stocks may be up almost 30% from their March lows, but most fund managers in a Bank of America Corp. survey remain skeptical that the gains can last and aren’t expecting a quick economic recovery from the coronavirus crisis.
The unemployment rate is at its highest since the Great Depression. The current situation differs from that of the early 20th century in a few ways that may prevent the U.S. from entering another depression.