For a decade, chief executives of the world's largest companies welcomed Fed-sanctioned debt on their balance sheets and made themselves and their shareholders rich. Covid-19 has turned the strategy into an addiction.
“This nation is the United States,” says Tracy Maitland, head of one of Wall Street's largest minority-owned investment firms, "If we are going to be united, everyone has to have equal access and full and fair consideration.”
Bank of America said on Tuesday morning it will make a $1 billion commitment help local communities address widening economic and racial inequality brought on by the pandemic.
The personal savings rate has nearly doubled but individuals at any income level may not have proper emergency funds. Others are keeping too much cash. This is how much you need in an emergency fund and where you should keep it.
There are signs that consumer credit stress after Covid-19 is improving. However, low-income borrowers hit hard by the pandemic continue to show added credit stress.
President Trump's 2017 tax cuts came with a feature everyone has forgotten. Leveraged companies were supposed to see their tax bills rise in 2022 to help contain spiraling deficits.
As the pandemic crisis unfolded weekly in March, companies with an eye for customer experience, like GM Financial, Farmers Insurance, and Tryg, built customer loyalty by staying on top of what their customers had to say. They used AI technologies like chatbots and natural language processing.