Federal Reserve

Business

Gains for some tech giants nudge S&P to another record high

Technology companies helped lift stocks higher on Wall Street, nudging the S&P 500 to its third straight all-time high, even as other parts of the market faltered. A burst of buying in the final 10 minutes of trading sent the benchmark index 0.2% higher. The S&P 500 had been down 0.3% earlier amid another bout

Opinion

Opinion: The War on Retirement

The federal government appears to have declared war on retirement. Unlike other wars, this one isn’t only undeclared, it wasn’t even intended. But, intended or not, the federal government has taken a series of steps that have given us a war nonetheless. Ironically, this war began with Social Security in 1935. Rather than establishing a

Opinion

Opinion: The Dangers of Central Banking and Deficits

It’s an election-winning formula that’s worked in the short term for politicians of both parties, critics note. Lots of spending and cheap money. As President Joe Biden runs huge deficits some wonder if the economy will eventually self-destruct. Popular economic policies, critics say, often seem successful in the short run but eventually turn toxic. And

COVID-19

Fight over Fed powers stalls $900 billion aid plan

An arcane battle over emergency Federal Reserve powers foiled efforts on Saturday to lock down an agreement on an almost $1 trillion COVID-19 economic relief package. The deadlock was just the latest stumble in a partisan, months-long fight over pandemic relief and the lack of progress is backing lawmakers once again up against a government

Economy

Mnuchin denies trying to limit Biden’s economic options

Treasury Secretary Steven Mnuchin denied on Friday that he is attempting to limit President-elect Joe Biden’s options for reviving the pandemic-damaged economy by ending several emergency loan programs being run by the Federal Reserve. Mnuchin said the programs were not being heavily utilized and Congress can make better use of the money by re-allocating it

National

How can Wall Street be so healthy when Main Street isn’t?

The stock market is not the economy. Rarely has that adage been as clear as it is now. An amazing, monthslong rally has put the S&P 500 back to where it was before the coronavirus slammed the U.S, even though millions of workers are still getting unemployment benefits and businesses continue to shutter across the

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