"They should help support smooth functioning of funding markets as market participants implement business resiliency plans in response to the coronavirus," the statement said, though it added that the Fed will "continue to adjust" operations as needed.
Officials have also been buying $60 billion in short-term Treasury bills each month to build up the financial system's buffer of bank reserves, essentially deposits at the Fed. The goal was to keep cash flowing smoothly so that borrowing costs in money markets would stay under control.
Other things to check out:
Money in politics: Is there any evidence the media actually cares? | Salon.com
When the newly formed Persist PAC recently launched a $12 million ad buy in support of Elizabeth Warren, newspaper headlines were pointed.
"Super PAC Launches to Support Elizabeth Warren, Who Has Decried the Role of Super PACs," announced the Washington Post ( 2/19/20 ). "Elizabeth Warren, Long a Super PAC Critic, Gets Help From One," was the New York Times' take ( 2/19/20 ).
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And indeed, it was a remarkable reversal for a candidate who has largely staked her campaign on her commitment to rooting out money and corruption in politics. As she said when she launched her campaign (Twitter, 2/9/19 ):
Officials: Hamilton doesn't have extra money to fix more streets
Almost everybody in Hamilton agrees the city needs to spend more money to repair streets. But many, when they discuss the street-repair levy that will be on the March 17 ballot, say Hamilton must already have the money it could spend from other parts of its budget.
That’s just not true, says Jack Whalen, the citizen leader of the campaign to support Issue 1, and city officials.
“The definitive answer simply is no,” Whalen said. “They do not have the money, and it’s public record. You can go look at the budget.”
How Credit Card Companies Make Money
Opinions expressed here are ours alone, and are not provided, endorsed, or approved by any issuer. Our articles follow strict editorial guidelines and are updated regularly.
Americans love credit cards — why pay now if you can pay later and earn rewards for doing so? Unfortunately, poorly managed accounts can quickly deflate your bank account and end up costing you more than you charged to the card in the first place.
That's because credit card companies charge interest on the balance you carry every month. But this isn't the only way card companies make money. In addition to the fee you pay for borrowing their digital dollars, you may be on the hook for other charges when transferring a balance, taking out a cash advance, or missing a payment.
Many things are taking place:
Uptrust raises new money to fight mass incarceration with technology – TechCrunch
While most technology companies are building up a surveillance state to serve political powers and private profiteering, Uptrust is using some of those same tools to make it easier to move people out of the criminal justice system.
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Think of the company’s software as a customer relationship management tool for people who have interacted with the criminal justice system — which, in America, is a huge portion of the population.
Money in Your Pocket: Monday 3/9/2020 | WSYR
SYRACUSE, N.Y. (WSYR-TV) -- The Big Rock Summer Tour featuring legendary rock acts RATT, Tom Kiefer from Cinderella, Skid Row, and Slaughter is coming to the Saint Joseph's Health Amphitheater at Lakeview on August 25th.
"We're looking forward to layin' it down on The Big Rock Summer Tour. The band is firing on all cylinders and more than ready for the shows with some great bands. Let the games begin!" said Stephen Pearcy, the founder, singer, and songwriter of RATT. Instrumental to the glam rock scene of the '80s, RATT's influence shaped generations of rock bands worldwide. They are best known for songs like "Round and Round", "Back For More", and "Wanted Man".
Should young investors keep 100% of their money in stocks during a correction?
A podcast listener asks: "A question I was thinking of during this market selloff — would you recommend younger investors (say, 22-29 years old) be invested 100% in stocks or a relatively more conservative portfolio (90%/10% stocks/bonds, 85%/15%, 80%/20%, etc.) to capitalize on drawdowns?"
Michael Batnick and I took a stab at this one on the podcast this week. My own retirement assets have been basically 100% in stocks since I began investing in 2005-ish. (I say "basically" because I do have some trend-following strategies that will shift from stocks to bonds occasionally.)
French Court Says Bitcoin Is Money | PYMNTS.com
A French court has decided that bitcoin is money, the first time a court in France has issued such a ruling, according to a report from Les Echos Sunday (March 8).
The decision came about following a clash between the Bitcoin marketplace Paymium and the crypto investment company BitSpread . The result of the ruling could lead to more activity in the French bitcoin market.
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"The court had to decide whether BitSpread owed Paymium any of the Bitcoin Cash that the fork created," according to a report from Decrypt ."It eventually ruled that the Bitcoin Cash belonged to BitSpread, just like dividends are paid out to a shareholder. And as part of its ruling, it concluded that Bitcoin was a fungible asset, just like money."
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