Along with daily news briefings by President Donald Trump and the White House coronavirus task force, daily updates from top governors, notably Andrew Cuomo of New York, Gavin Newsom of California and J.B. Pritzker of Illinois, have emerged as must-see events of this pandemic period. Key Words:New York Gov. Cuomo …
Read More »The Moneyist: ‘I was punished for being responsible. I filed my 2019 taxes early — and received almost no stimulus check’
Dear Moneyist, In 2018, I made about $ 155,000 with my wife. In 2019, I got a promotion and our combined annual income was $ 198,000. I filed my taxes early as I am very responsible, and now I found out that, had I had not filed my 2019 taxes, …
Read More »The Tell: The next 45 days are the ‘most critical period in U.S. financial history,’ says stock-market expert who profited in 1987 and 2008 crises
After recovering a chunk of the losses racked up during the worst of the coronavirus-induced selloff last month, the stock market finds itself at a crucial inflection point, writes Alan B. Lancz. “The next 45 days may just become the most critical period in U.S. financial history,” he wrote in …
Read More »In One Chart: What will the stock market look like in a post-coronavirus world? The bulls are hoping history repeats itself
The Dow Jones Industrial Average DJIA, +2.99% ended a four-week stretch Friday with a total return approaching 30%, bouncing back from its worst first-quarter performance in history. As the worst pandemic in a century continues to take its toll on the global economy, investors, with no clear end in sight, …
Read More »Forecaster of the Month: Nightmare scenario for economy is becoming less likely, award-winning forecaster says
Even in normal times, being an economic forecaster requires a multi-disciplinary approach. Not only do you need to understand the economic relationships, but you have to take all sorts of other variables into account: politics, finance, meteorology, psychology, supply-chain management and more. Add epidemiology to the list, as award-winning forecaster …
Read More »The IRS is sending $1,200 stimulus checks to dead people
Many Americans are eagerly anticipating stimulus checks of up to $ 1,200 starting this week, but in a few cases the recipients won’t be celebrating — because they’re dead. The IRS began distributing $ 290 billion in direct cash payments within the past week as part of a $ 2 …
Read More »The U.S. stock market may enjoy the biggest rally ever when the pandemic is over
The stock market, before Wednesday, rallied strongly as the coronavirus curve flattened. Imagine, now, the magnitude of the rally if the coronavirus were vanquished. President Donald Trump has said that, due to pent-up demand, the economy will eventually “pop back like nobody’s ever seen before.” Regardless of your political views, …
Read More »Do I have to pay back my $1,200 stimulus check? Don’t fall for these five myths about the stimulus payments
The $ 2 trillion stimulus bill that authorized direct checks to millions of Americans is a sprawling and complicated piece of legislation — true story. But here’s another true story: your money is yours to save, spend, invest or donate because it’s not a loan Uncle Sam is expecting you …
Read More »Medill News Service: Treasury says it will act with ‘urgency’ on humanitarian requests involving sanctioned countries during coronavirus pandemic
The head of the Office of Foreign Assets Control said Friday she wants to ensure that economic sanctions against foreign countries do not impede U.S. humanitarian relief for the COVID-19 pandemic, but the former director of the agency said the business community wants it to go further. The Treasury Department …
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