What savers do with $2.4 trillion will define the recovery
CNN
Wall Street is expecting the economy to come roaring back to life in the second half of this year. But there's one crucial question: Are Americans ready to spend the savings they've stashed away during the pandemic?
What's happening: In a note to clients this week, Goldman Sachs strategists estimated that Americans are sitting on $1.5 trillion in "excess" or "forced" savings. They forecast that figure will climb to $2.4 trillion, or almost the size of India's annual GDP, "by the time that normal economic life is restored around mid-year."
Elon Musk has called MSNBC “the utter scum of the Earth.” He has said the channel “peddles puerile propaganda.” Just a few days ago he said, “MSNBC is going down.” And now he is posting memes about buying the channel.
Macy’s announced Monday that a single employee was responsible for so many accounting irregularities that the company was forced to delay its quarterly earnings report, which the retailer had planned to release Tuesday.
Hedge fund executive Scott Bessent survived an internal squabble over the role of Treasury secretary, a key position that will face almost immediate deadlines and pressures.
Unless you’re lucky enough to have a defined-benefit pension on top of Social Security when you retire — which most US private-sector workers will not — figuring out how to make your money last in retirement can be nerve-wracking.
Iced coffee just isn’t the same when you make it at home. It quickly waters down, tastes bitter and simply doesn’t emulate what you pay a barista upwards of $8 for.
Experts say marketing was key to the success of the two movies in their opening weekend.
Software company providing services to US and UK grocery stores says it was hit by ransomware attack
A major software supply-chain company, which counts US and UK grocery stores and Fortune 500 firms as clients, said it was hit by a ransomware attack this weekend.
Egg prices have risen steadily over the past two years. A spike in avian flu and the approaching holiday season are combining to make the problem even worse.
Thanksgiving means football, food and, for some, crazy family reunions. It can also mean the stress of shopping for dinner.
Despite some union leaders welcoming the nomination of Republican Rep. Lori Chavez-DeRemer to lead the Labor Department, there is still trepidation as to what lies ahead for the rules, regulations and enforcement strategy for American workers.
The McRib and Nacho Fries disappear and reappear with no seeming pattern. Experts say that’s by design.