finance

“So you think money is the root of all evil?” That is the question the wealthy, dashing copper magnate Francisco d’Anconia asked at the beginning of his famous “money speech” in Ayn Rand’s 1957 novel Atlas Shrugged. D’Anconia was addressing a roomful of people who seemed confused about the meaning of money. Sixty-two years later, …

In an effort to “fight” the consequences of the politically orchestrated “lockdown,” the Fed pumps vast amounts of money into the economy. It injects base money into the banking system. It also monetizes outstanding debt and finances the US administration’s deficit spending policy by issuing new money. This not only increases “excess reserves” in the …

Berkshire Hathaway annual meeting will be nothing like the extravaganzas of years past, but will give Warren Buffett a chance to show how resilient his cash-rich conglomerate may be to the coronavirus pandemic, and the investment opportunities it offers. The meeting and surrounding festivities that Buffett calls “Woodstock for Capitalists” normally draw more than 40,000 …

The Federal Reserve’s policy-making committee meets this week, and there’s really not much left for it to do, other than to repeat previous messages about being there if the country needs it. I asked Greg McBride, chief financial analyst at Bankrate.com, to sum it up so I wouldn’t have to. “The Federal Reserve has cut …

If you can’t pay your credit card because you lost your job owing to the coronavirus pandemic, your card company might help. Depending on the card, the issuer might let you skip a month, waive fees or extend your credit line. Banks, the big credit card issuers, are “working to identify and assist affected clients …