NEWS

Adult Children Are Returning Home in Record Numbers

“You really have to start asking whether going into debt to fund the situation is the appropriate thing, ’”

12 Million Americans Set to Lose Unemployment Benefits by Year’s End

Unemployment benefits will terminate for millions of workers at the end of the year, just as rent and student loan protections lapse, absent federal extensions.

Covid Pandemic Is the First Time 40% of Americans Have Experienced Food Insecurity

4 in 10 Americans say the Covid-19 pandemic was the first time they experienced food insecurity, and a majority struggled to get the help they needed.

Central Bank With Negative Rates Record Shows Why They Work: Bloomberg

Denmark’s central bank says its latest study into the long-term effects of negative interest rates shows the policy works better than is widely appreciated.

Fed’s Kaplan: Not Ruling Out U.S. Slipping Back Into Recession

Federal Reserve Bank of Dallas President Robert Kaplan sees negative growth possible in the fourth quarter as the coronavirus pandemic surges across the United States and says it is critical that the Fed’s emergency programs continue into 2021.

New Google Pay App Will Compete With Banks

The app shows friends and family you can pay directly through the app at the top of the screen with nearby businesses that accept Google Pay appearing below. That includes restaurants where users can both order and pay for food through Pay.

Who Bought the Monstrous $4.2 Trillion Added to the Incredibly Spiking US National Debt?

An increasingly important question, because someone always has to buy this debt – and it’s not just the Fed. But the share of foreign holders is waning.

Official Delinquencies Plunge, Credit Scores of Delinquent Borrowers Jump

Credit-score algos got fooled by forbearance. Weirdest economy ever where no one knows what’s going on anymore.

FedCoin Revisited

"We don’t know whether the Fed would take steps to eliminate cash or impose negative rates on FedCoin balances. We don’t know how it would go about intermediating funds. But such speculations should make one thing clear: there are risks. At the least, we should develop strong institutional...

The complexity of Monetary Policy & Effectiveness of Fed’s Commitment to Higher Rate of Inflation

"A better policy would be to bring greater clarity to the structure and effects of the Fed’s policy framework so as to improve the quality of investor expectations. So long as investors feel that they might as well be reading tea leaves to predict Fed policy, the Fed will struggle to anchor...

Why Vaccine Developments Argue for More Fiscal Stimulus

“The resulting rise in virus fear and renewed social distancing measures are constraining sentiment and weighing on mobility and spending,” said Gregory Daco, chief U.S. economist at Oxford Economics.

Central Bankers: The Arrogance of It All

Arrogance or Intelligence? For many years, I believed that the Federal Reserve Bank consisted of intelligent men and women that would carefully defend and uphold the value of the US dollar and keep the charade going for generations to come. No longer will I be fooled by the all powerful money printers.

ECB Can’t Go Bankrupt Even It Suffers Losses

The European Central Bank could "neither go bankrupt nor run out of money" even if it were to suffer losses on the multi-trillion-euro pile of bonds it has bought under its stimulus programmes, ECB President Christine Lagarde said on Thursday.

G20 Nations Have Now Deployed $11 Trillion to Support a Post Civid Economic Recovery

The total spending to date, by way of comparison, is more than twice the gross domestic product of Japan.

Fed Now Holds More Treasury Securities Than All Other Foreign Central Banks Combined

The G4 Central Banks’ Balance Sheet Is Expected to Reach $29 Trillion in 2022

Liberty Media Chairman John Malone Says He’s Buying Hard Assets in Bet on Currency Devaluation

Liberty Media Chairman John Malone said hard assets are appealing as the unprecedented coronavirus stimulus could lead to depreciation in currencies.

Millions of Workers Remain Underemployed as Virus Surges Prompt Business Closures

Meanwhile, holiday hiring has barely made a dent in the employment outlook.

Existing Home Sales Soar To Highest In 15 Years

“It’s quite remarkable given that we’re still in the midst of the pandemic and the high unemployment rate.”

IMF, G-20 Warn Recovery May Be Derailed, Risks Still Very High

The guardians of the global economy are warning that the recovery from this year’s recession is at risk and could be derailed as the resurgence of Covid-19 forces fresh restrictions on households and companies. Both the International Monetary Fund and the Group of 20 -- which comprises the world’s richest nations -- sounded the alert...