The stock market is turning into a casino

The stock market is turning into a casino

The stock market has been in chaos since the coronavirus emerged as a serious threat. On Thursday the S&P 500 dropped over 9%, more than it had in a single day since 1987. It roared back to reclaim some of the losses on Friday.  It’s not just the past two days. As my colleagues noted […]
Trump just waived interest on student loans

Trump just waived interest on student loans

In response of the coronavirus, U.S. President Donald Trump has just waived interest on all student loans.  “I am announcing the following emergency actions today: to help our students and their families, I’ve waived interest on all student loans held by federal...
Fed asset purchases focused on fixing ‘market malfunction’

Fed asset purchases focused on fixing ‘market malfunction’

The Federal Reserve’s decision to again purchase longer-term U.S. government debt will address turmoil in the government bond market, said Allianz Chief Economic Adviser Mohamed El-Erian. “It’s a very good thing that the Fed is finally reacting, because we cannot...