Cheap Fun Cars Are Dying Because Young People Can’t Afford Them

car

Why are attainable enthusiast cars disappearing? Because young working people can no longer afford to buy them. Car fans are tired of being told we can’t have nice things. The ensuing refrain is that the enthusiast market is too small to be sustainable. Given the U.S. population alone has increased by 80 million people over…

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This Overlooked Variable Is the Key to the Pandemic

This Overlooked Variable Is the Key to the Pandemic It’s not R. There’s something strange about this coronavirus pandemic. Even after months of extensive research by the global scientific community, many questions remain open.Why, for instance, was there such an enormous death toll in northern Italy, but not the rest of the country? Just three…

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The Fed is expected to make a major commitment to ramping up inflation soon

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 POINTS The Federal Reserve is completing a yearlong policy review and is expected to announce the results soon. One big change would be a harder commitment to getting inflation higher, through a pledge not to raise rates until it hits at least 2%. Markets have been betting on higher inflation, with surging gold prices, a…

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Layoffs and lawsuits: Colleges resort to last-ditch efforts to stay afloat

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KEY POINTS As colleges face extreme budget shortfalls, some schools are laying off staff, slashing salaries and reducing retirement benefits. But teachers are fighting back. With declining enrollments, reduced giving and state funding cuts, colleges are resorting to last-ditch efforts to stay afloat. Now teachers are the latest victims of extreme cost cutting. The University…

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IRS Expands CARES Act Tax Breaks On Retirement Plan Distributions, Loans

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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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How the Federal Funds Rate Affects Your Wallet

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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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Federal Reserve Vows To Help Economy Weather The Pandemic Recession

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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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Turns Out It Was a Good Time to Quit Smoking After All

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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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2 billion doses of the Oxford coronavirus vaccine will be available after a new deal that included $750m from Bill Gates, AstraZeneca says

covid vaccine

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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