Federal Reserve Chairman Jerome Powell has been out there again sounding the alarm about the potential for further damage to the economy from the coronavirus pandemic. In his newest remarks, he worried aloud about the possibility of a second round...
Consumer confidence edged higher in May after two months of steep declines as businesses shuttered by the coronavirus pandemic gradually reopened, but the measure still hovers near six-year lows. The closely watched index of Americans’ outlook rose to 86.6 from...
Sometimes financial engineering gets you more than you bargained for. From the customer’s perspective, car rental is a straightforward business. The only uncertainty is whether the hiring company will charge you for the scratch they discover when you hand back...
Federal regulators have changed rules and cleared up some confusion about limits placed on the over 4 million borrowers in the mortgage relief program the government rolled out to contend with the coronavirus’ economic onslaught. Lending rules that were in...
Prices are tumbling in America as the coronavirus lockdown drags on and people spend less. US consumer prices declined for the second-straight month in April, the Bureau of Labor Statistics reported on Tuesday. Prices fell by 0.8% on a seasonally...
Before the coronavirus pandemic spooked the stock markets, shook the economy and turned the financial lives of millions of people upside down, household debt in the US had already hit a record high. The New York Federal Reserve reported Tuesday...
For small business owners, the federal government’s Paycheck Protection Program has been a nightmare to navigate since the day it launched. These employers—who were supposed to be the program’s primary target—have faced rejected applications, system outages, and insufficient funding —...
The financial world has been turned upside down by extraordinary events in recent years. First, there were negative interest rates, something that had never happened in 5,000 years of recorded history. Now it’s negative oil prices, a phenomenon that sparked...
In the third week of March, while most of our minds were fixed on surging coronavirus death rates and the apocalyptic scenes in hospital wards, global financial markets came as close to a collapse as they have since September 2008....
With nearly 10 million Americans filing for unemployment in March, April 1 was always going to be a difficult day for US renters. Now we have an idea of just how difficult: Nearly a third of 13.4 million US renters,...
Citi strategists have suggested that the rally is nothing more than an “aftershock” and is not underpinned by volume or any guarantees of an end to the outbreak. Jimmy Conway, head of EMEA equity trading strategy, told CNBC Tuesday that...
The Federal Reserve is temporarily relaxing a rule that imposes additional capital requirements on deposits and Treasury securities held by the biggest U.S. banks. The supplementary leverage ratio, or SLR, requires banks to hold an extra buffer of high-quality capital...
Speed has been the hallmark of this bear market—but a speedy recovery probably isn’t in the works, even after the Dow Jones Industrial Average posted its biggest gain in more than 85 years. The Dow soared 2112.98 points, or 11.37%,...
The benchmark 10-year Treasury yield resumed its historic slide on Monday as investors continued to punish risk assets like stocks in favor of the safety of bonds between an all-out oil price war and contagion fears surrounding the coronavirus. The...
The top U.S. securities regulator has increased its scrutiny of private funds that make higher-risk loans over the last two years, according to a Reuters review of SEC actions and industry and regulatory sources — just as fears of a...
