The IRS expanded the number of taxpayers who qualify to tap into their retirement plans using the generous provisions of the CARES Act. The IRS also answered questions about details of distributions and loans under the CARES Act that have been asked by employers, employees, and plan administrators. The Coronavirus Aid, Relief, and Economic Security…

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Jerome Powell is the finance world’s Cardi B. As the chair of the Federal Reserve (aka America’s central bank), Powell is the face of a lot of gov money moves that affect you. Like changing the federal funds rate. That’s an important percentage that influences everything from inflation to what you pay to borrow money. Increasing rates means the…

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The Federal Reserve left interest rates near zero Wednesday and once again promised to deliver whatever monetary medicine it can to an economy that’s badly ailing from the coronavirus pandemic. “The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time,” the central bank said…

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Bloomberg.com Lockdowns hurt cigarette sales in emerging markets as the tobacco industry tries to figure out what comes next. So, perhaps reassuringly, it turned out tobacco wasn’t so defensive during this global health crisis after all. After indications early in the pandemic that tobacco may hold up, British American Tobacco Plc on Tuesday reduced its forecasts for full-year sales growth as…

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A patient enrolled in a coronavirus vaccine clinical trial receives an injection, May 4, 2020. University of Maryland School of Medicine/AP Photo The global supply of a potential coronavirus vaccine being developed at Oxford University has been doubled to 2 billion after a deal including $750 million from the Bill and Melinda Gates Foundation. The vaccine…

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Grocery store prices saw the highest month-to-month jump in more than 40 years as waves of Americans stocked up on provisions and hunkered down in April. The Labor Department released its monthly consumer price report on Tuesday, and the data revealed a 2.6% spike in supermarket prices last month led by higher costs for meat and eggs. Americans paid 4.3% more for meats,…

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An infectious outbreak can conclude in more ways than one, historians say. But for whom does it end, and who gets to decide? When will the Covid-19 pandemic end? And how? According to historians, pandemics typically have two types of endings: the medical, which occurs when the incidence and death rates plummet, and the social,…

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Safety first, but don’t rule out the old-school approach of just picking up the phone and calling your local dealer. Because every crisis presents opportunity, here’s one we’ve kicked around: Is this a good time to snag a deal on a car? The laws of supply and demand (as well as plunging interest rates) say…

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