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Ordinarily, a forgiven loan qualifies as income. However, Congress chose to exempt forgiven PPP loans from federal income taxation. Many states, however, remain on track to tax them by either treating forgiven loans as taxable income, denying the deduction for expenses paid for using forgiven loans, or both.
READ MOREDid Low Interest Rates Boost Auto Sales? Do These Covid Markets Make Any Sense?
READ MOREMortgage rates and the 10-year treasury yield have gone opposite ways. This is not normal.
READ MOREOfficials in many countries combine incentives with threats warning that those who don’t get the shot will be shut out of everyday activities.
READ MOREThe problem facing the Fed is a sharp rise in interest rates, due to spiking inflation from the stimulus, which risks blowing up the everything bubble.
READ MORESo far, it looks like they will give the market what it wants.
READ MOREBy getting the central bank policy call right and simply overweighting index products, investors profited substantially from both stock and bond investments. Meanwhile, economists struggled to predict even basic economic variables such as growth and inflation.
READ MOREThe Fed's most frequent lament is that no matter how many trillions in bonds (and stocks and ETFs) it buys or how much liquidity it forehoses into the market, it just can't push inflation higher.
READ MOREWhat nation serves as the most powerful example of how statism can wreck an economy and impoverish people? The Soviet Union Greece Cuba China Zimbabwe Venezuela Those are all good choices, but perh…
READ MOREMajor holders of Puerto Rico’s General Obligation ("GO") and Public Buildings Authority ("PBA") bonds – including the Ad Hoc Group of Constitutional Debtholders, Ad Hoc Group of GO Bondholders, Lawful Constitutional Debt Coalition and QTCB Noteholder Group – today reached an agreement with Puerto Rico’s Financial Oversight and Management Board...
READ MOREPowell testifies that inflation is ‘soft’ in semiannual report to Congress. Powell testified on Tuesday that inflation and employment remain well below the Fed’s targets, meaning easy monetary policy is likely to stay in place.
READ MOREInflation and employment remain well below the Federal Reserve’s goals, meaning easy monetary policy is likely to stay in place, central bank Chairman Jerome Powell said Tuesday.
READ MOREGold steadied after a two-day gain as investors awaited testimony from Federal Reserve Chair Jerome Powell and weighed the prospect of a U.S. stimulus package moving closer to approval. Powell’s semi-annual report at the Senate Banking Committee Tuesday and Wednesday at the House Financial Services panel will be monitored...
READ MOREThe escalating rise in longer-term government bond yields around the world could threatening to undermine efforts by central banks to support the global recovery.
READ MOREECB President Christine Lagarde said on Monday the centralbank was "closely monitoring" rising borrowing costs - a commentthat knocked Germany's 10-year Bund yield off its eight-monthhigh. Borrowing costs across the euro zone have risen sharply this month...
READ MOREThe U.S. Treasury is due to run down a $1.6 trillion bank account at the Federal Reserve as government spending ramps up in the months ahead - a move some analysts warn may crush short-term money rates further and flood financial markets with cash.
READ MOREIn a new note out of Goldman's Christian Mueller-Glissmann, the strategist looks at the impact of inflation on balanced portfolios, and writes that even as US inflation expectations have fully recovered and investors are moving from fading deflation risk to pricing an inflation overshoot (which in moderation is good since "higher inflation...
READ MOREU.S. Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome Powell appear wary of signs of froth in financial markets, even as they press ahead with economic stimulus measures that are elevating the euphoria...
READ MOREClimate change represents a "grave threat" to global peace and security, the U.K. will say when it chairs a special session of the UN Security Council on Tuesday.
READ MORECommodities rose to their highest in almost eight years amid booming investor appetite for everything from oil to corn.Hedge funds have piled into what’s become the biggest bullish wager on the asset class in at least a decade...
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