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Inside the Fed's Plan to Support Minority Workers

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6:41 a.m. Nov. 18, 2021 - By Victor Reklaitis
Pelosi: House vote on Biden's social-spending bill could occur as soon as todayHouse Speaker Nancy Pelosi on Thursday said her chamber was close to advancing Democrats' social-spending and climate bill, saying a vote "hopefully will take place later this afternoon." House Democrats have been on the nearly $2 trillion Build Back Better Act that President Joe Biden has been promoting, while Republicans have continued to criticize the measure amid the highest inflation in three decades. A small group of moderate Democrats has demanded a Congressional Budget Office analysis of the bill before moving forward, and Pelosi said during a news conference that she expected "final CBO estimates later this afternoon, hopefully by five o'clock."
2:28 a.m. Nov. 15, 2021 - By Tomi Kilgore
CyrusOne stock jumps after KKR, GIP buyout deal valuing CyrusOne at $11.5 billionShares of CyrusOne Inc. climbed 3.6% toward a record in premarket trading Monday, after the data center-focused real estate investment trust announced an agreement to be acquired by KKR & Co. Inc. and Global Infrastructure Partners (GIP) in a deal valued at $15 billion, including debt. Under terms of the deal, KKR and GIP will pay $90.50 in cash for each CryusOne share outstanding, which is 5.9% above Friday's record closing price of $85.45. The buyout price implies a market capitalization for CyrusOne of $11.49 billion. The deal is expected to close in the second-quarter of 2022. "KKR and GIP will provide substantial additional resources and expertise to accelerate our global expansion and help us deliver the timely and reliable solutions at scale that our customers value," said CyrusOne Chief Executive Dave Ferdman. CryusOne's stock has gained 13.2% over the past three months through Friday, while the SPDR Real Estate Select Sector ETF has tacked on 3.1% and the S&P 500 has advanced 4.8%.
4:40 a.m. Nov. 11, 2021 - By Mark Decambre
Dow slips below 36,000 as Disney's stock skids over 7% lower but broader stock market aims for Thursday turnaround U.S. stocks open mostly higher Thursday morning, spearheaded by a rebound in technology shares, which had led the market south Wednesday after red-hot inflation data sent Treasury yields soaring. The bond market was closed in observance of Veterans Day but stocks remain open as usual. However, poor quarterly results from Walt Disney & Co. , which reported results late Wednesday, were weighing on the blue-chip index. The Dow Jones Industrial Average was down 72 points, or 0.2%, at 35,993; the S&P 500 index was trading 0.2% higher, however, at 4,655 and the Nasdaq Composite Index advanced 0.7% to reach around 15,724. The gains for the S&P 500 and the Nasdaq Composite come after both indexes registered their worst days since Oct. 4. Signs that troubled China real estate group Evergrande has again avoided a default also were credited for improving sentiment on Wall Street.
1:14 a.m. Nov. 8, 2021 - By Tomi Kilgore
CorePoint's stock tumbles after $1.5 billion buyout deal represents near 12% discount to Friday's closing priceShares of CorePoint Lodging Inc. tumbled 13.8% in premarket trading Monday, after the U.S. lodging real estate investment trust announced an agreement to be acquired in a cash deal valued at $1.5 billion by a joint venture between affiliates of Highgate and Cerberus Capital Management. Under terms of the deal, the per-share price paid is $15.65 a share, or 11.9% below Friday's stock closing price of $17.76 but 42% above the July 13 closing price, which was the last trading day before CorePoint announced its strategic alternatives process. The deal is expected to close in the first quarter of 2022. Separately, Wyndham Hotels & Resorts announced an agreement with CorePoint regarding the termination of all hotel management agreements once the CorpPoint merger is closed. CorePoint's stock has soared 158.1% year to date through Friday, while the SPDR Real Estate Select Sector ETF has rallied 31.9% and the S&P 500 has gained 25.1%.
3:46 a.m. Nov. 1, 2021 - By Steve Gelsi
Franklin Resources buying private equity investment firm Lexington PartnersFranklin Resources Inc. said Monday it agreed to pay $1.75 billion to acquire Lexington Partners L.P., a manager of secondary private equity and co-investment funds. "This acquisition will bolster Franklin Templeton's alternative asset capabilities, complementing its existing strengths in real estate, private credit, and hedge fund strategies, at a time when investors are increasingly allocating capital across the full spectrum of alternative asset offerings," the company said. Founded in 1994, Lexington has raised more than $55 billion in commitments and invested in more than 4,500 secondary, co-investment and primary interests, with $34 billion of assets under management currently. Franklin Templeton is buying 100% of Lexington from its current owners, for $1 billion at close and $750 million of additional payments over the next three years. Lexington will operate as a specialist investment manager within Franklin Templeton under its current management team. The deal will be immediately accretive to adjusted earnings after it closes as expected in the second fiscal quarter of 2022. Franklin Resources stock is up 3% in pre-market trades.
9:18 a.m. Oct. 11, 2021 - By Tomi Kilgore
Healthcare Trust responds to activist investor's urging to put itself up for saleHealthcare Trust of America Inc. said Monday that it regularly reviews its strategic plan and opportunities to enhance shareholder value. "We are open minded and committed to delivering superior returns for all HTA shareholders," the real estate investment trust that owns and operates medical office buildings said in a statement. The statement was in response to activist investor Elliott Investment Management L.P.'s letter to the HTA's board , given the "long-term underperformance" relative to its peers, the broader REIT sector and stock market. "After we were first contacted by Elliott, members of HTA's management team and board held several discussions with representatives of Elliott to better understand their views, and those views were immediately shared with the full HTA board," the company said. The stock rose 2.1% in afternoon trading. It has rallied 17.6% year to date, while the SPDR Real Estate Select Sector ETF has run up 22.3% and the S&P 500 has advanced 16.8%.
4:10 a.m. Oct. 11, 2021 - By Tomi Kilgore
Healthcare Trust stock surges after activist investor urged REIT to explore a buyout dealShares of Healthcare Trust of America Inc. surged 2.5% toward a 19-month high in premarket trading Monday, after activist investor Elliott Investment Management L.P. urged the real estate investment trust that owns and operates medical office buildings to explore a sale. In a letter to Healthcare Trust's board, Elliott said given the company's "long-term underperformance" relative to its peers, broader REIT sector and the broader stock market, the "status quo is untenable" as the company's cost of capital makes it uncompetitive. Elliott said it was "confident that highly credible buyers will present compelling offers to acquire the company at a substantial premium to the current trading price," and prices seen since the . The stock, on track to open at the highest price seen during regular-session hours since March 2020, has rallied 21.5% over the past 12 months, while the SPDR Real Estate Select Sector ETF has climbed 20.8% and the S&P 500 has advanced 26.3%.
9:46 a.m. Sept. 30, 2021 - By Greg Robb
Yellen throws cold water on trillion-dollar coin solution for debt ceiling stalemateTreasury Secretary Janet Yellen on Thursday said "the only way" to avoid a default on the U.S. debt is for Congress to pass legislation to raise the debt ceiling, throwing cold water on the radical idea of minting a trillion-dollar coin to get around the politically difficult vote. Rep. William Timmons, a Republican of South Carolina, asked Yellen to comment on the idea. He said Speaker of the House Nancy Pelosi "gave oxygen" to the proposed trillion-dollar coin when she mentioned it during a press conference on Wednesday. Timmons asked Yellen to "please tell me this is not a legitimate policy proposal." In response, Yellen said: "I believe that the only way to handle the debt ceiling is for Congress to raise it and show the world, financial markets and the public that we're a country that will pay our bills." However, in a question from Rep. Sean Casten, Democrat from Illinois, Yellen said she would support legislation to remove the requirement for a vote on the debt limit by Congress.
3:47 a.m. Sept. 27, 2021 - By Greg Robb
Fed's Rosengren, under scrutiny for 2020 trading activity, to retire on Sept. 30Boston Fed President Eric Rosengren announced Monday he will retire on Sept 30. In a statement, Rosengren said he moved up his long-planned retirement by nine months because of health concerns. Rosengren would have had to retire next June under Fed rules. Rosengren has been criticized for actively trading in real-estate investment trusts in 2020 while the Fed was taking extraordinary steps to keep financial markets stable during the pandemic. Reformers, like the group Better Markets, had called for Rosengren to resign.
1:19 a.m. Sept. 20, 2021 - By Tomi Kilgore
All 30 Dow stocks fall as Evergrande default fears spark selloff Shares of all 30 components of the Dow Jones Industrial Average are trading lower in Monday's premarket, led by financials, as part of sparked by concerns over the collateral damage from the potential default by . Among the biggest early decliners, shares of American Express Co. sank 2.9%, Goldman Sachs Group Inc. gave up 2.5% and J.P. Morgan Chase & Co. shed 2.5%. The most active Dow stock was Apple Inc.'s , which slid 1.2%. The best performer was Traveler Companies Inc.'s stock , which slipped just 0.1%. Meanwhile, Dow futures tumbled 540 points, or 1.6%.
11:13 a.m. Sept. 9, 2021 - By Mark Decambre
Dow, S&P 500 mark longest losing skid in 12 weeks as stock market wobbles lowerThe Dow Jones Industrial Average and the S&P 500 marked a fourth straight loss Thursday, relinquishing earlier gains that had been partly attributed to indications President Joe Biden will expand COVID-19 vaccine mandates for federal workers. Investors sold health-care, consumer-staples real-estate stocks, weighing on the broader market, which has mostly been trading in record territory until this holiday-abbreviated week's recent slump. The Dow closed down over 150 points, or 0.4%, at 34,879, losing its grip on 35,000, while the S&P 500 index retreated 0.5% at 4,493, marking the fourth consecutive decline for both indexes, which is the longest stretch of declines since a multisession skid ended June 18. The Nasdaq Composite Index fell 0.3% at 15,248. Trading on the session came as Fed Gov. Michelle Bowman said that she favored tapering of the central bank's asset purchases soon. Meanwhile, Europe's central bank said that it would conduct asset purchases under its pandemic emergency purchase program, or PEPP, at a "moderately lower pace" after accelerating purchases in recent quarters. In economic reports, initial jobless claims fell by 35,000 to 310,000 in the week ended Sept. 4, the Labor Department said Thursday, marking the lowest level of claims since the pandemic struck in March 2020 and the biggest decline in claims since late June. In corporate news, Lululemon Athletica soared 10% on the day after reports its quarterly results. The White House has signaled that President Biden will seek a fresh round of additional vaccine mandates for federal workers and push for those measures to be extended to employees of government contractors.
3:59 a.m. Sept. 9, 2021 - By Steve Gelsi
Jefferies raises outlook for U.S. banks after shares have 'treaded water'Jefferies analyst Sean Darby on Thursday lifted the firm's outlook on U.S. banks to bullish from modestly bullish. "The environment for financials appears to be improving and the catalyst for performance from higher lending, a steeper yield curve and lower provisioning charges pushes us to raise the weighting back to bullish," Darby said in a note to clients. Wall Street investors are starting to recognize that both tapering and the rate cycle are appearing on the horizon, even as U.S. bank shares have treaded water alongside stable forward earnings revisions, he said. All told, the Financial Select Sector SPDR ETF is up about 28% so far in 2021, compared to a 20% gain by the S&P 500 . With the typical loan portfolio composition of a U.S. bank comprised of about 23% commercial lending, 20% residential lending and about 15% commercial real estate loans, a jump in producer prices, home prices and stabilizing in commercial real estate prices have improved the health of the overall lending portfolio of banks. A "less heartening statistic" is that total loans (gross of reserves) have slipped since 2020, whilst total deposits have surged, he said.
11:09 a.m. Sept. 7, 2021 - By Mark Decambre
Dow logs worst day in about 3 weeks as Nasdaq Composite ekes out 36th record high of 2021 U.S. stock benchmarks finished the session mixed on Tuesday, with the Nasdaq Composite logging its 36th record high of the year, barely, while the Dow and S&P 500 ended the first day back from a three-day holiday in the U.S. in negative territory. Indeed, the Dow ended the session down 268 points, or 0.8%, lower at about 35,100, on a preliminary basis, ringing up the sharpest one-day point and percentage drop since Aug. 18, when the blue-chip index closed about 382 points, or 1.1% lower. The S&P 500 ended down 0.3% at 4,520, weighed by declines in industrials, consumer staples, real estate and utilities. The Nasdaq Composite Index , meanwhile, edged up less than 0.1%, but notched a sufficient rise for an all-time closing high. In corporate news, Ford Co. saw its shares pop after announcing that it hired Doug Field, a former executive at Tesla Inc. and the executive behind Apple Inc.'s automobile ambitions.
3:29 a.m. Sept. 1, 2021 - By Tomi Kilgore
Medical Properties Trust raised earnings outlook, announces deal to sell an interest in 8 hospitals for a premiumShares of Medical Properties Trust Inc. rose 0.6% in premarket trading Wednesday, after the real estate investment trust announced a deal to sell an interest in acute care hospitals it owns and raised its earnings outlook. The REIT (MPT) said it reached an agreement with Macquarie Infrastructure Partners V (MIP V) to form a partnership in which an MIP V subsidiary buys a 50% stake in eight Massachusetts-based hospitals currently owned by MPT and operated by Steward Health Care System, in a deal that values the portfolio at $1.78 billion. "This transaction's portfolio valuation is a 48% increase over our original investment in these hospitals made in 2016, and the compelling value creation reflects the strength of MPT's underwriting process, which allows our team to identify operators and strategies that are likely to result in long-term and sustained improvement in operating results," said Medical Properties Trust Chief Executive Edward Aldag. Separately, MPT said based on year-to-date transactions, it raised its guidance for annual net income to $1.81 to $1.85 per share for normalized funds from operations, from $1.72 to $1.76. MPT's stock has lost 6.0% year to date through Tuesday, while the SPDR Real Estate Select Sector ETF has soared 30.4% and the S&P 500 has advanced 20.4%.
9:36 a.m. Aug. 27, 2021 - By Greg Robb
Fed's Clarida, echoing Powell, backs start of taper this yearThe number two official at the Federal Reserve on Friday backed the start of a taper of bond purchases later this year, in comments that largely echoed Fed Chairman Jerome Powell's Jackson Hole speech. In an interview with CNBC, Fed Vice Chairman Richard Clarida said he expects the trend of "robust" job gains seen this summer to continue and "if that happens I would also support commencing reduction in the pace of our purchases later this year." The economy has added an average of over 800,000 per month over the last three months. Clarida said it wouldn't take the strong pace of 800,000 jobs per month for the Fed to reach its benchmark for tapering of "substantial" progress in the labor markets. "I don't think it takes 800,000 per month, but robust gains," Clarida said.
3:46 a.m. Aug. 27, 2021 - By Greg Robb
Fed's Harker backs starting taper 'sooner rather than later'Philadelphia Fed President Patrick Harker said he wanted to move toward tapering asset purchases "sooner rather than later." In an interview with CNBC, Harker said that he didn't think the $120 billion per month of asset purchases were "doing a whole lot right now." The economy is being held back by supply issues that lower interest rates can't solve, he said. Harker said he was still supportive of "moving the taper along" despite potential damage to the economy from the coronavirus delta variant. The Philadelphia Fed president said the rapid acceleration in inflation seen this year "may not be so transitory." Contacts in his district have said supply chain disruptions facing the home-building sector "won't be solved anytime soon," he said. Harker won't be a voting member of the Fed's interest-rate committee until 2023.
3:03 a.m. Aug. 25, 2021 - By Tomi Kilgore
Norwest leads venture round for ICON, maker of 3-D printed homesICON Technologies Inc., which uses jumbo-sized 3-D printers to build homes, said Wednesday it closed a $207 million series B round of investment led by Norwest Venture Partners, which is backed by Wells Fargo & Co. . Other investors included Citigroup Inc. , 8VC, BIG-Bjarke Ingels Group, Bond, Crosstimbers, Ensemble, Fifth Wall, LENx, Moderne Ventures and Oakhouse Partners. The Austin, Texas company has delivered more than 24 3D-printed homes and structures in the U.S. and Mexico and is working on social housing, disaster relief housing and mainstream housing, as well as working with NASA on infrastructure and habitats for potential use on the moon and Mars. Norwest Venture Partners managing partner Jeff Crowe is joining the board of ICON as part of the firm's Series B round, which brings its total funding to $266 million in about three years. ICON CEO and co-founder Jason Ballard continues to lead the company. (This item was written by Steve Gelsi)
6:07 a.m. Aug. 17, 2021 - By Tomi Kilgore
David Tepper's Appaloosa trims equity holdings, sells off Disney, PayPal stakes while adding Uber, Pulte betsDavid Tepper's Appaloosa LP disclosed late Monday that it reduced its investment in nearly all of its holdings during the second quarter, as the value of equities held by the hedge fund declined by about 31%. The value of Appaloosa's equity holdings as of June 30 was $4.83 billion, down from $6.96 billion as of March 31, even as the S&P 500 rose 8.2% during that period. Among the fund's largest holdings, the Micron Technology Inc. stake was reduced to 5.65 million shares from 7.28 million shares, the Amazon.com Inc. stake was cut to 125,000 shares from 186,000 shares and the Facebook Inc. stake was lowered to 1.21 million shares from 1.82 million shares. Among some other moves during the quarter, the fund sold off its 145,000-share stake in Adobe Inc. , its 475,000-share stake in Discovery Inc. , the 345,000-share stake in Walt Disney Co. and it's 175,000-share stake in PayPal Holdings Inc. , while adding a new 2.04 million-share stake in Uber Technologies Inc. and a new 1.51 million-share stake in PulteGroup Inc. .
3:12 a.m. Aug. 17, 2021 - By Tomi Kilgore
KKR to sell an industrial real estate portfolio for $2.2 billionKKR & Co. announced Tuesday a deal to sell an industrial real estate portfolio for $2.2 billion to Oxford Properties. The 14.5 million square foot portfolio includes 149 distribution buildings in 12 U.S. markets, including Dallas, Atlanta, Chicago, Houston and San Diego. KKR said after the deal closes, which is expected to occur "in the coming months," it will still own more than 20 million square feet of industrial property. "Four years ago, we set out to create a large stabilized portfolio that would benefit from secular changes in the logistics sector largely driven by e-commerce and consumer preference changes," said Roger Morales, KKR's head of real estate acquisitions. "Today's transaction not only demonstrates how this strategy is performing for our investors, but also reflects the tremendous market opportunity we continue to see in industrial real estate." KKR's stock, which was little change in premarket trading, has rallied 61.5% year to date, while the SPDR Real Estate Select Sector ETF has run up 28.0% and the S&P 500 has gained 19.3%.
3:50 a.m. Aug. 13, 2021 - By Tomi Kilgore
WeWork's Q2 net loss widens from a year ago but is less than half that of Q1 as recovery acceleratesWeWork reported Friday a second-quarter net loss that widened slightly from a year ago, but was less than half that of the first-quarter, as the flexible-office-space company said recovery trends that started earlier this year accelerated. by way of a merger with special purpose acquisition company (SPAC) BowX Acquisition Corp. WeWork reported a net loss of $888.85 million for the quarter ended June 30, compared with a loss of $863.83 million in the year-ago period but down from . Revenue fell 32.7% from a year ago to $593.48 million, and was down slightly from $598 million in the first quarter, but the company said revenue increased sequentially each month in the second quarter. The company expects third-quarter revenue to improve to $650 million to $700 million. "Regardless of how companies are thinking about the future of work, access to a space to collaborate, innovate, mentor and build culture remains critical," said Chief Executive Sandeep Mathrani. "The demand from businesses of all sizes accelerated through the quarter and steadily continued into July, delivering strong sales momentum that will drive occupancy and revenue growth." BowX Acquisition's stock edged up 0.1% in premarket trading.
8:30 a.m. Aug. 11, 2021 - By Greg Robb
Fed's Kaplan says central bank should announce taper plans in SeptemberDallas Fed President Rob Kaplan said Wednesday that he will press his colleagues at the central bank to announce a plan to taper bond purchases at its next meeting in late September. In an interview on CNBC, Kaplan said he wanted the slow down in purchases to start in October and last until June. Kaplan has been pressing his colleagues to start to pull back on its $120 billion in monthly bond and mortgage-related securities since late April. Asked if he had a lot of support from his colleagues for his position, Kaplan said there was a "range of views" but the committee is in a much better place than it was two months. Kaplan said the asset purchases don't help the economy now because the trouble is with the supply of goods and workers. Asset purchases work best to spur demand, he said. Kaplan ducked questions about whether his timetable meant that the Fed will raise interest rates as soon as next year. He said he was "divorcing" his views on tapering from his decisions on when to hike rates.
9:52 a.m. July 23, 2021 - By Tomi Kilgore
PropertyGuru to go public through merger with SPAC, with the valuing company at $1.35 billionPropertyGuru Pte. Ltd. announced an agreement that will take the Southeast Asia property technology company public, through a merger with special purpose acquisition company (SPAC) Bridgetown 2 Holdings Ltd. that will value the combined company at $1.35 billion. Bridgetown 2's stock rose 1.0% in afternoon trading. The deal is expected to provide $431 million of gross proceeds. After the deal closes, which is expected to occur by the end of July 2021 to mid-August 2021, the combined company will be listed on the NYSE. Bridgetown 2 was formed by Pacific Century Group and Thiel Capital LLC. "This process of becoming a public company will provide us with greater financial resources to do what we do best - helping people find, finance and own their homes in an efficient and transparent manner," said PropertyGuru Chief Executive Hari Krishnan. Bridgetown 2's stock, which started trading on Jan. 26, has slipped 1.3% over the past three months while the Renaissance IPO ETF has eased 1.7% and the S&P 500 has gained 5.5%.
1:41 a.m. July 13, 2021 - By Tomi Kilgore
Altus Power to go public through $1.6 billion merger deal with SPAC CBRE AcquisitionAltus Power Inc., the Connecticut-based clean electrification ecosystem company, is going public through a merger announced Tuesday with special purpose acquisition company (SPAC) CBRE Acquisition Holdings Inc. , a deal that values the combined company at $1.58 billion. The deal, which is expected to close in the fourth quarter of 2021, is expected to generate $678 million of gross proceeds. The combined company, named Altus Power, is expected to list on the NYSE under the ticker symbol "AMPS." "We are very excited about the opportunity to supply real estate investors and occupiers - many of whom will come to us through our relationship with CBRE -- with clean energy savings and sustainability benefits using a data-driven approach to design and build onsite solar generation facilities, energy storage, and EV-charging for vehicles and fleets - while preparing for a networked future that will have these systems work in tandem and across multiple buildings to produce value for commercial, industrial, municipal and community solar customers," said Altus Chief Executive Lars Norell. CBRE shares, which were still inactive in premarket trading, have slipped 1.2% over the past three months while the S&P 500 has gained 5.9%.
7:58 a.m. May 15, 2021 - By MarketWatch
These money and investing tips can help you when inflation is burning a hole in your walletThese money and investing stories were popular with MarketWatch readers over the past week.
11:26 a.m. May 13, 2021 - By Quentin Fottrell
I bought my parents’ house at below-market rate — my sister wants me to give her $50K to build my mother an annex. Is that fair? ‘My sister has a bunch of lumber sitting on her lawn, and no money to pay the contractor’‘My sister has a bunch of lumber sitting on her lawn, and no money to pay the contractor.’
1:58 a.m. May 11, 2021 - By Ciara Linnane
Startup mortgage lender Better to go public via merger with SPAC Aurora Acquisition in $7 billion dealStartup mortgage lender Better HoldCo is going public via a merger with special purpose acquisition corporation (SPAC) Auroa Acquisition Corp. in a deal with an equity value of about $6.9 billion and a post-money equity value of about $7.7 billion, the companies said in a joint statement Tuesday. Softbank will invest another $1.5 billion via a PIPE, or private investment in public equity, once the deal closes. Better, a digital platform that was founded in 2016, will have $778 million of primary proceeds to fund growth, said the statement. The company has more than $24.2 billion in loan volume, has placed $7.7 billion in title insurance, $1.4 billion in homeowners insurance and $691 million in real estate transaction volume. The deal is expected to close in the fourth quarter.
11:20 a.m. May 5, 2021 - By Greg Robb
Fed Vice Chairman Clarida says it is not time yet to talk about taperingFederal Reserve Vice Chairman Richard Clarida on Wednesday said it was not time yet to begin conversations about possibly scaling back the central bank's asset purchases. The Fed is buying $120 billion per month of Treasurys and mortgage-related securities as well as keeping interest rates close to zero in order to stimulate the economy. The Fed has said it wants to see "substantial further progress" on its goals of full employment and stable inflation before tapering. Asked when the Fed should start "talking about talking about" tapering, Clarida replied: "We don't think so right now." Dallas Fed President Robert Kaplan said earlier this week it was time to start the discussion about tapering. Several Fed officials speaking on Wednesday have all disagreed with Kaplan. "We'll get more data -and as we move through the year- we will be able to make a judgement on 'substantial further progress,' but we're not there yet," Clarida said.
4:30 a.m. May 5, 2021 - By Greg Robb
Fed's Evans says chances of persistently higher inflation are 'remote'The chances that the $2.8 trillion stimulus measures passed by Congress since December will overheat the economy and generate higher inflation are remote, said Chicago Fed President Charles Evans on Wednesday. Inflation is likely to pick up in coming months as people resume normal activities and some bottlenecks emerge but simulations performed by economists at the Chicago Fed see inflation topping out at less than a full percentage point and dissipating in two or three years, Evans said in a speech to the Levy Economics Institute of Bard College. "We still have some ways to go before we meet our goals" of full employment and stable 2% average inflation, Evans said. As a result, Fed policy "is likely on hold for some time," he added. Labor market conditions required to move interest rates off zero or to start to taper the $120 billion in monthly asset purchases "will not be met for a while," he said.
4:54 p.m. May 2, 2021 - By Quentin Fottrell
My financially reckless ex-husband bought a house with our son — now his business is failing. How can we be free of this mess? ‘This was the way my father treated my mother, so I thought it was normal’‘This was the way my father treated my mother, so I thought it was normal.’
11:08 a.m. May 2, 2021 - By Quentin Fottrell
I saved $1.1M for retirement, earn $128K and have $22K in cash. Can I afford my dream car — an $80K Nissan GT-R? ‘I’m 41 and single with no kids, and have always been a big saver’‘I’m 41 and single with no kids, and have always been a big saver.’
11:45 a.m. April 29, 2021 - By Quentin Fottrell
My coworker wants to sell her house as prices have skyrocketed. The co-signer on her mortgage demands 25%. Can she sell without his permission? ‘He is either mistaken in the leverage he holds, or else your coworker has confused co-signer with co-owner’‘He is either mistaken in the leverage he holds, or else your coworker has confused co-signer with co-owner.’
9:09 a.m. April 29, 2021 - By Quentin Fottrell
My second husband, 86, and I have 12 kids between us. He wants me to leave him everything — and says he will pass on the inheritance to my 5 children ‘He wants to leave the house to his children, but says if I outlive him I can live in it or rent somewhere if I wish to move’‘He wants to leave the house to his children, but says if I outlive him I can live in it or rent somewhere if I wish to move.’
4:53 p.m. April 28, 2021 - MarketWatch.com
Biden pitches families plan, infrastructure and calls on wealthy to pay ‘fair share’ in first speech to Congress: live blog and video State-of-the-Union-style speech will also focus on policing, immigrationPresident Joe Biden gives his first big speech to Congress on Wednesday night, in a State-of-the-Union-style address in which he’ll make the case to voters for his newly unveiled safety-net and education proposals.
1:25 p.m. April 24, 2021 - By Quentin Fottrell
I’m on track to retire at 58. My fiancée is in debt and drives my old car, and I support her family. How do I ensure my son inherits my wealth after I die? ‘My concern is that if I am married, the savings I have would go to her and subsequently her children, bypassing my son’‘My concern is that if I am married, the savings I have would go to her and subsequently her children, bypassing my son.’
12:59 p.m. April 20, 2021 - By Andrew Keshner
Floyd family attorney Ben Crump says Derek Chauvin’s murder conviction is ‘painfully earned justice’ — here’s what gave him hope months earlier A jury found the former Minneapolis officer guilty on all three counts TuesdayA jury found the former Minneapolis officer guilty on all three counts Tuesday.
11:16 a.m. April 17, 2021 - By Quentin Fottrell
My parents made my sister executor of their $4 million estate, and joint owner of their bank accounts. Should I be worried? ‘We have five other siblings who are currently unaware of this arrangement’‘We have five other siblings who are currently unaware of this arrangement.’
10:42 a.m. April 17, 2021 - By Quentin Fottrell
My fiancée’s mother asked us to raise her 2 kids, as we live in a good school district and she has a gambling addiction — then she claimed their stimulus checks ‘I advised her to leave the money as the IRS may eventually ask for it back. Her new boyfriend then quickly told her to withdraw it anyway’‘I advised her to leave the money as the IRS may eventually ask for it back. Her new boyfriend then quickly told her to withdraw it anyway.’
9:01 a.m. April 14, 2021 - By Quentin Fottrell
My husband signed for a car for a friend — against my wishes. Now we get notices for unpaid tolls and parking tickets. What if there’s an accident? ‘Every time another ‘past due’ envelope arrives I panic at the thought of the savings I worked so hard to put away might be gone in one accident’‘Every time another ‘past due’ envelope arrives I panic at the thought of the savings I worked so hard to put away might be gone in one accident.’
5:22 a.m. April 11, 2021 - By Quentin Fottrell
I’m a farmer in my late 30s and live a frugal lifestyle. My son has a disability. Should I pay extra on my mortgage — or save for retirement? ‘He has a disability that will likely mean he will be living with us for our entire lives’‘He has a disability that will likely mean he will be living with us for our entire lives.’
5:21 a.m. April 10, 2021 - By Quentin Fottrell
I’m 30. My wife is 34. We saved $350K and I have $325K saved for retirement. Should we pay cash for a home — or take out a mortgage and invest it? ‘We have been cheaply renting for the last three years, and living as if I were still a very poor graduate student. During this time, we paid off all of our debts’‘We have been cheaply renting for the last three years, and living as if I were still a very poor graduate student. During this time, we paid off all of our debts.’
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