It’s hard to imagine being paid to borrow money or penalized for saving. But the economic shock from Covid-19 may call for drastic measures. Up until this point, the Federal Reserve has never brought its benchmark rate into negative territory and, according to Federal Reserve Chairman Jerome Powell, the Fed is not considering going to negative interest rates now. “The
Bill Olesner walks down South Battery St. while cleaning debris from storm drains on September 5, 2019 in Charleston, South Carolina. Hurricane Dorian is just off the coast of South Carolina. Sean Rayford | Getty Images The Atlantic hurricane season’s first tropical storm could develop near Florida and the Bahamas this weekend, according to forecasting
Federal Reserve Chairman Jerome Powell speaks during a news conference in Washington, DC. Getty Images Another “big setback” in the U.S. economy could prompt the Federal Reserve to consider cutting interest rates into negative territory — but such a monetary policy wouldn’t be “very helpful,” a Goldman Sachs strategist said on Thursday. Fed Chairman Jerome Powell
For the more than 33.5 million Americans who’ve filed for unemployment since mid-March, the stress of living during the pandemic includes dealing with the additional stress of job loss. Even in the most normal of circumstances, ”involuntary job loss is one of the most stressful events on the scale of stressful life events,” says Monique Valcour, an
David Tepper David Orrell | CNBC Billionaire investor David Tepper said the stock market is one of the most overpriced he’s ever seen, only behind 1999. Before Wednesday’s sell-off, it was “maybe the second-most overvalued stock market I’ve even seen,” Tepper said Wednesday on CNBC’s “Halftime Report.” “I would say ’99 was more overvalued.” “The market is
A view of new York State Department of labor office in Flushing Queens during coronavirus pandemic on April 12, 2020. (Photo by John Nacion/NurPhoto via Getty Images) NurPhoto Democrats want to give Americans larger unemployment checks until next year. Certain workers — particularly those in lower-paying industries like accommodation and food services — stand to benefit
Offices of Cutera Inc. in Brisbane, Calif. Google Earth The largest public companies that tapped the government’s emergency relief fund for small businesses nearly all had ready access to other forms of capital, according to a CNBC analysis of filings. Even amid the upheaval caused by the coronavirus pandemic, these companies raised millions of dollars
A pedestrian wears a face mask while pushing a stroller past the Tiffany & Co. luxury goods store at Times Square in the Causeway Bay district of Hong Kong, China, on Feb. 6, 2020. Ivan Abreu | Bloomberg via Getty Images A luxury rebound in China is fueling hopes of a rapid recovery for high-end
The market may be in better shape than Wall Street thinks. The Leuthold Group’s Jim Paulsen believes investor angst over the coronavirus pandemic is overdone. He predicts stocks will return to all-time highs sooner than it takes for the economy to recover. “Fear is on steroids,” the firm’s chief investment strategist told CNBC’s “Trading Nation”
This time of year, Tommia Hayes is usually busy coordinating with hundreds of business leaders across several states to organize her employer’s biggest event of the year, a corporate and social responsibility conference, that generally takes place every June in New York City. That conference, like countless other plans waylaid by the pandemic, is now