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Banking

“President Biden slams ‘reckless bill’ from Republicans to reverse funding for the IRS and its 87,000 new hires — here’s how it could affect you”

“President Joe Biden had included increased funding for the IRS in the Inflation Reduction Act to help the agency catch sneaky tax evaders — especially those high-earners who love to find loopholes. Advocates believe the increased funding could raise as… Continue Reading…

Economy

“Americans Are Worried About The Coronavirus. They’re Even More Worried About The Economy.”

“Earlier this week, President Trump said he is considering taking steps to roll back restrictions that businesses and state governments have put in place to contain the coronavirus. Citing the economic impact of measures like social distancing, Trump floated Easter Sunday as the date… Continue Reading…

Economy

“The IMF thinks this small South American country will see economic growth of 86% next year”

“Guyana, a country of about 780,000 which shares a border with Brazil, Suriname and Venezuela in the northeast of South America, will see economic growth of 86% in 2020, according to the IMF. That’s up from 4.4% in 2019. Such an explosive expansion of… Continue Reading…

Banking, Economy

“New York Fed Adds $82.7 Billion To Financial System in Latest Repo Transaction”

“The Federal Reserve Bank of New York added $82.7 billion to the financial system Friday, using the market for repurchase agreements, or repo, to relieve funding pressure in money markets. Banks asked for $21.15 billion in 6-day loans, all of… Continue Reading…

Economy, Stocks

“80% of the stock market is now on autopilot “

“It’s no secret that machines are taking up a bigger and bigger share of investing, but the extent of their influence is approaching shocking proportions. It is as high as 80%, according to one major investing firm… This means so… Continue Reading…