The Federal Reserve has shown that it knows how to maintain the flow of credit during a crisis. But bond investors now also expect the Fed’s unprecedented stimulus in financial markets to change the course of the credit cycle – that is, preventing more companies from falling than expected just …
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The New York Senate passed a bill on July 22, 2020 establishing a 90-day grace period for consumers to redeem their credit card rewards if they close or modify their existing accounts, making it easier for anyone who want to close a credit card to cash in their earnings The …
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The US dollar is taking a beating on Wall Street, measured by a popular index. The blame is partly on the revival of the EURUSD euro, -0.01% as European leaders forged a historic fiscal pact to lift the eurozone economy out of the coronavirus pandemic that has brought much of …
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Rich interests have thrived during the pandemic. The CARES Act authorized billions in expenses to support wealthy individuals and corporations. Most of the money was used to guarantee the liquidity of banks and hedge funds, back corporate balance sheets, and buy debt to save commercial loan markets. Overall, 82% of …
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Fewer Americans now have agreements with their mortgage servicers to skip their monthly payments. Getty Images / iStockphoto Fewer than 4 million homeowners in the US skip their mortgage payments, according to new estimates by the Mortgage Bankers Association released Monday. The business group reported that only 7.8% of mortgage …
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