The U.S. economy is already on the mend nearly five months after nationwide lockdowns suffocated business activity in an attempt to save lives during the coronavirus outbreak. But another threat could prove to be even more debilitating - eroding that recovery before it's lifted off the ground and arriving with severe consequences for businesses and the job market: a second wave of coronavirus infections. Economists are consumed by the fear that the virus could come back with a vengeance. A...

SHARE THIS ARTICLE Share Tweet Post Email The dollar’s share of global central-bank reserves fell to the lowest level since 2013 while holdings of the Chinese yuan rose for a fourth consecutive quarter, International Monetary Fund data showed Friday. The U.S. currency accounted for 62.3 percent of global allocated foreign-exchange reserves in the second quarter, down from 62.5 percent and the ninth decline in the past 10 quarters, the IMF said in a report. The drop occurred despite a 5...

Not all recessions are created equally. Neither are the recoveries — and the biggest financial fear is that the current economic slump will last long after the coronavirus is contained. Economists often say recessions take on shapes. A “W”-shaped recession is a double-dipping downturn, with the financial system bouncing back but falling again. A “U” form means lower-for-longer, while a “V” means a sharp decline but an equally strong snapback. That “V” was the ultimate hope when the...

The federal government’s relief checks will provide millions of Americans with much-needed support in light of the coronavirus shutdowns nationwide, but it won’t be enough to cure their financial hardship, a new survey from Bankrate finds. The majority of Americans (or 67 percent) anticipate receiving a stimulus payment, thanks to the third fiscal care package President Donald Trump signed into law on March 27. But 31 percent of those expecting money say it won’t sustain their financial...

Imagine a world where you pay a bank to hold onto your cash and a bank pays you to take out a loan. This isn’t an alternate dimension — it’s what supposedly happens when interest rates turn negative. Rates below zero are an unconventional economic concept that could turn the world of banking on its head. Though Federal Reserve Chairman Jerome Powell said Sunday that negative borrowing costs won’t likely be an appropriate policy for the U.S., consumers may be feeling uncomfortably close to...