Recession: Rebound In Economic Activity Pauses And Uncertainty Expands

President Donald Trump’s massive debt highlighted in a New York Times report Sunday exposing his astonishingly low federal income tax payments makes him vulnerable to foreign influence — and a threat to national security, his biographer warned Monday. Trump is in a position to use the power of his office to erase some of his $421 million debt revealed by the Times by obtaining…

The savings of American families increased strongly between 2016 and 2019, according to Federal Reserve data released on Monday, but…

Like President Donald Trump, rich Americans often deploy sophisticated tax avoidance strategies to maximize their wealth.

House Speaker Nancy Pelosi abruptly shifted course Thursday and moved to assemble a new coronavirus relief bill to form the basis for renewed talks with the White House, amid mounting pressure from moderates in her caucus and increasingly alarming economic news. Pelosi has more recently focused on an additional $2.2 trillion in aid- a figure Republicans say…

The Fed can generate inflation. After all, the Fed can create money at essentially zero marginal cost. The Federal Reserve has convinced investors that a massive expansion of its balance sheet will not lead to inflation.

The sell-off on Wall Street came amid renewed weakness among technology stocks, as reflected by the particularly steep drop by the tech-heavy Nasdaq. Big-name tech companies like Netflix, Apple, Amazon and Alphabet all showed significant moves to the downside. Concerns about surging coronavirus cases in certain parts of the world may also have weighed on the…

“Why Obamacare Might Survive — Even if Trump Gets His New Justice”: Jordan Weissmann has this jurisprudence essay online at Slate.

Wall Street indexes were pressured by warnings from U.S. Federal Reserve officials about the need for more stimulus to revitalize the world’s largest economy in the face of the recession stemming from covid-19. The need for additional stimulus was also underscored by Federal Reserve Vice President Richard Clarida, Governor Randal Quarles and regional Fed…

WASHINGTON— On one side of the Capitol Tuesday, Republicans strode through the Senate halls projecting bullish confidence about the coming fight over the Supreme Court vacancy. “The path ahead continues to be highly uncertain,’’ Jerome Powell told a House committee, warning of risks if Congress does not pass another stimulus package.“ I think it’ s likely that more…

But regulators disagree on best way to keep pace with online banking. The Federal Reserve on Monday took steps toward revamping a 40- year-old law intended to ensure that low- and moderate-income Americans have access to credit and banking services. “The CRA is a seminal statute that remains as important as ever as the nation confronts challenges associated…

Trump said that he has a list of five finalists, “probably four,” and that he is pushing for a Senate confirmation vote before Election Day, November 3. Democrats are protesting, because Republicans refused to confirm President Barack Obama's Supreme Court nominee seven months before the 2016 presidential election. Republicans have a 53-47 advantage in the…

GE to exit coal-plant business. The move may include asset sales, site closings, and job impacts, GE said in a statement Monday. Hurricane Sally, which hit Florida and Alabama earlier this month with heavy rainfall and winds, is expected to cost insurers $1 billion to $3 billion, according to AIR Worldwide.

The weakness on Wall Street came as stocks extended the sell-off seen on Wednesday after the Federal Reserve revealed plans to leave interest rates at near-zero levels for years to come. Negative sentiment was also generated in reaction to a report from the Labor Department showing first-time claims for U.S. unemployment benefits fell less than expected in…

President Trump rebukes CDC Director Robert Redfield. On Wednesday, President Trump rejected Center for Disease Control and Prevention Director Robert Redfield‘ s scientific conclusions regarding both the advice to wear a mask and the timely access to a COVID-19 vaccine. Oregon and Washington will receive rainfall beginning Thursday that will help…

TAIPEI, Taiwan – U.S. Under Secretary of State Keith Krach arrived in Taiwan on Thursday for the second visit by…

Federal Reserve leaders predict that unemployment will fall to 7.6 percent by the end of this year, and to 5.5 percent by the end of 2021, even as much about the path of the novel coronavirus and its influence over the economic recovery remain unknown. “The recovery has progressed more quickly than generally expected,” Fed Chair Jerome H. Powell said at a news…

Census Bureau data shows poverty numbers down- before pandemic. Health insurance became slightly more scarce in the United States last year, even before the coronavirus pandemic arrived and stole the jobs and health benefits of millions of Americans, according to federal data released Tuesday. According to the Census Bureau figures, the official poverty…

Democrats promise to stay in session until deal struck. Congressional House Democrats said yesterday that they would remain in Washington as long as it takes to strike a deal for another round of coronavirus relief spending, but a bipartisan effort to find middle ground with a new $2 trillion plan was quickly rejected by top Democrats, including Rep.

The Stock Exchange of Thailand now sits just beneath the 1,280- point plateau and it's expected to spin its wheels again on Friday although it may find traction on Monday. Among the actives, Advanced Info shed 0.55 percent, while Thailand Airport added 0.43 percent, Asset World lost 0.51 percent, Bangkok Bank tumbled 1.90 percent, Bangkok Dusit Medical dropped…

“The chief actuary of the Social Security Administration just released an analysis of Trump's planned cuts to Social Security. Under Trump's plan, Social Security would become permanently depleted by the middle of calendar year 2023. Without fail during a tough election season, Democrats bring up Social Security.

Democratic presidential nominee Joe Biden is intensifying his efforts to dislodge President Trump's advantage on economic issues with voters, fueling an intensifying debate over which candidate could better handle the fragile recovery. On Wednesday, Biden pushed tax proposals that he said would help bring jobs back to the United States, trying to hit…

Jane Fraser is set to become the first woman ever to lead a mega Wall Street bank, succeeding Michael Corbat as Citigroup chief executive when he retires in February following eight years at the helm of the firm.

Tesla shot up 10.9 percent after its 21.1 percent free-fall on Tuesday, when it was announced the electric car company had not made the cut for the benchmark S&P 500 index as expected. Microsoft jumped 4.3 percent, Apple added 4.0 percent, Amazon climbed 3.8 percent, and Google parent Alphabet moved up 1.6 percent. Plus, the Federal Reserve has accommodated Wall…

Wells Fargo has been mired in regulatory issues, and now faces the coronavirus crisis. Is the stock a buy right now?

But prospects for a bipartisan breakthrough remain remote, even as the legislative window on Capitol Hill narrows and economists warn a sputtering recovery demands new Washington spending. “The legislation is not expected to advance, since that would require support from Democrats, and House Speaker Nancy Pelosi called the measure' pathetic,'” Erica Werner…

One co-op serves customers in Maine, another in Wisconsin, and the third operates in Idaho and Montana and will move into Wyoming next year. All made money in 2019 after having survived several rocky years, according to data filed with the National Association of Insurance Commissioners. Congress provided $2 billion in startup loans.

This article was originally published on UPFINA. The August BLS labor report bested the ADP report by a lot just like it has since the recovery started. As you can see from the chart below, there were 1.371 million jobs added which was less than last month which added 1.734 million and slightly missed the consensus of 1.4 million. August

U.S. stocks nosedived, dragged down by tech, in a wild day of trading Thursday, slamming the brakes on a record-shattering run that had lifted Wall Street to new heights. The Standard& Poor's 500- stock index shed 125.78 points, a 3.5 percent slide, to end at 3,455.06. Apple, the most highly valued publicly traded company in the United States, shed more than 6 percent.

Stocks moved sharply higher over the course of the trading day on Wednesday, extending the upward move seen in the previous session. With the continued advance, the Nasdaq and the S&P 500 once again reached new record closing highs. The continued strength on Wall Street partly reflected recent upward momentum, which has propelled stocks higher over the past…

Economists are warning that the economic downturn caused by the coronavirus pandemic is now creating another recession: mass job losses, business failures and declines in spending even in industries not directly impacted by the virus. Why it matters: The looming recession — a possible recession within a recession — is less severe than the coronavirus-driven downturn. But it’s…

Home sales are up in Cuyahoga County as the coronavirus pandemic and the corresponding recession continue to rage, with buyers saying they endure fierce bidding wars to get the house of their dreams. Kelsey Smigel lives in an apartment in Pinecrest in Orange Village and started looking for a house with her fiancé in recent months. Last month had 1,776 homes…

Wall Street bagged its best August in more than 30 years on Monday, a month that saw the three major U.S. indexes notch new milestones as investors looked past the pandemic and kept focus on positive economic markers. Improving labor data and the Federal Reserve's moves toward looser monetary policy have fueled optimism on Wall Street, even as the wait continues…

This page computes and graphs the Buffett Indicator valuation or stock market capitalization to GDP ratio for the United States. It provides a historical Buffet Indicator graph and current value, plus the median, minimum, maximum, and average value for the indicator. You can use either the Federal Reserve’s estimates for outstanding equity value in America or the Wilshire…

In past years, Senate President Steve Sweeney and Assembly Speaker Craig Coughlin have not allowed that, but both are keeping their options open now, given the dire need. Troy Singleton, D- Burlington, is among those who see change coming. “We're all going to have to give of ourselves to move New Jersey forward.

Sound German economic data, positive news on the coronavirus front and signs of progress in U.S.- China trade negotiations weighed on the metal's safe-haven appeal. U.S. biotechnology company Moderna, Inc. said it has concluded advanced exploratory talks to provide 80 million doses of its experimental coronavirus shot to the European Union.

The major U.S. index futures are currently pointing to a higher opening on Monday, with the Nasdaq and the S&P 500 poised to reach new record highs. The FDA concluded convalescent plasma may be effective in treating COVID-19 and that the known and potential benefits of the product outweigh the known and potential risks. Citing three people briefed on the plan, the…

But as the economy cratered in the spring, economists and poverty experts were mildly surprised to discover that the torrent of government support that followed- particularly the $600 a week in expanded unemployment benefits and one-time $1,200 stimulus checks- probably lowered the overall poverty rate. In fact, 17 million people would have dropped below…

Sometimes we need to rethink things. I’ ve been an advocate of deferring Social Security benefits for decades. If you go to a website like immediateannuities.com, the life annuity monthly payment for a 67- year-old man paying a $100,000 premium is $522 a month, or $6,264 a year.

The Federal Reserve’s policymaking body released minutes of its Jul 28-29 meeting on Aug 19. As a result, post meeting, the benchmark 10- year U.S. treasury yield gained by one bps to 0.68% on Aug 19 from a day earlier. Overall, the yield curve slightly steepened on Aug 19.