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The Consolidated Appropriations Act, 2021 (CAA), signed into law by President Donald Trump on Dec. 27, 2020, included new funding for the Paycheck Protection Program (PPP), which expired Aug. 8, 2020. The PPP was a U.S. loan program established to help small businesses affected by the economic slowdown associated with the COVID pandemic to pay

Fiat vs. Representative Money: An Overview Fiat money is physical money—both paper money and coins—while representative money is a form of currency that represents the intent to pay, such as a check. Both fiat and representative money are backed by something. Without any backing, they would be completely worthless. Fiat money is backed by a

Value-at-risk (VaR) is a widely used measure of downside investment risk for a single investment or a portfolio of investments. VaR gives the minimum loss in value or percentage on a portfolio or asset over a specific period of time for a certain level of confidence. The confidence level is often chosen so as to give an

Editor’s note: Below you’ll find the week 108 release of the NYC Recovery Index, originally published September 27, 2022. Visit the NYC Recovery index homepage for the latest data. New York City’s economic recovery suffered a small setback for the week ended September 17, 2022, with the overall index score declining to 75 out of

Stock market or equity indexes are composite measurements reflecting price movements of component stocks. Investors use indexes as a benchmark to gauge portfolio performance and as a barometer for overall market sentiment. When stock indexes trend upward, it reflects a bull market but when they trend lower, it signifies a bear market. In the United States,

One would assume that the strongest economies would have the strongest global currencies; however, that is not always the case. It turns out that long-term movements in currency prices are more important than exchange rates, which is why the British pound is worth more than the U.S. dollar. But this does not change the fact

Almost every overseas traveler needs to exchange currency at some point during a trip. If you don’t know the tricks, it can be extremely expensive. Trading currency at the hotel or even a currency kiosk in an airport or elsewhere in the country can be costly due to poor exchange rates and high fees. For

ACH Transfers vs. Wire Transfers: An Overview Electronic payments are becoming increasingly popular as more people choose to pay bills or send money online because doing so has become more convenient, easy, and cheap. Two of the easiest ways to send money directly from a bank account are automated clearing house (ACH) transfers and wire

Barry Sternlicht, CEO, Starwood Capital Group  Scott Mlyn | CNBC The Federal Reserve’s aggressive rate hike path – an attempt to calm the highest inflation in decades – is set to cause damage to the global economy if the central bank keeps going, according to billionaire Barry Sternlicht. “They are going to cause unbelievable calamities

If you’re eligible for Social Security spousal benefits, how much you’ll receive depends on a number of factors, including your age, the amount of your spouse’s benefit, and whether you have other retirement benefits available to you. Who’s eligible? Anyone whose spouse, ex-spouse, or deceased spouse was or is eligible for benefits, once you have

Barry Sternlicht, CEO, Starwood Capital Group  Scott Mlyn | CNBC The Federal Reserve’s aggressive rate hike path – an attempt to calm the highest inflation in decades – is set to cause damage to the global economy if the central bank keeps going, according to billionaire Barry Sternlicht. “They are going to cause unbelievable calamities

Gifting your children or grandchildren with contributions to an individual retirement account (IRA) can give them the advantage of a longer period of tax-free savings. It is definitely a gift that keeps on giving. An IRA is a tax-deferred retirement savings account. It is similar to the employer-sponsored 401(k) plan because it also allows funds to

In an unusually outspoken statement, the International Monetary Fund (IMF) openly criticized the UK government’s latest tax plan, stating the proposal by Liz Truss’s government was likely to add to inequality and soaring inflation. Chancellor of the Exchequer Kwasi Kwarteng unveiled the country’s biggest tax package in 50 years last week. However, the roughly $45 billion tax cut

Best Buy (BBY) is a consumer electronics retail chain with more than 1,000 locations and approximately 100,000 employees located throughout the United States and Canada. Best Buy provides a variety of products to commercial, government, and private clients including appliances, computers, cell phones, gaming systems, sound systems, hardware, software, and entertainment products. In addition to

Pixelseffect | E+ | Getty Images Offices are busier now than they’ve been at any point since Covid first sent employees home in March 2020. But companies are still in the thick of adapting to a more distributed workforce, creating an opportunity for workplace technology companies like Condeco and iOffice + SpaceIQ. The two companies

Robinhood and eToro have several things in common. Both are online discount brokers created to provide platforms for everyone to have access to trading without excessive fees. Both brokers also focus on providing simpler self-directed investing by incorporating innovative technology. Finally, both brokers were industry disruptors with eToro entering the industry in 2007 and Robinhood

Day trading involves buying and selling (or first short selling and then buying back) an instrument with an aim at making a quick profit. The holding duration may vary from a few seconds to a few hours but not exceed the span of a trading day. For example, a speculative trader may spot a technical

The governing Conservative (Tory) Party has dropped its plan to cut the top U.K. personal income tax rate from 45% to 40%, but other proposed tax cuts remain in play. The 45% rate is levied on annual incomes in excess of 150,000 British pounds sterling (GBP), or approximately $170,000. Chancellor of the Exchequer Kwasi Kwarteng

More than two years after the finalization of Brexit, the impact of Britain’s decision to separate itself from the European Union (EU) continues to be felt in the currency markets. On June 23, 2016, British voters decided unexpectedly that the U.K. would no longer be part of the European Union. Then, on Jan. 31, 2020,

From 2009 to the late 2010s, Bitcoin’s lack of correlation with the broader economy proved a mixed blessing. It acted as a haven for investors interested in an asset class independent of the turmoil that afflicts stock markets. However, increased and growing awareness from retail and institutional investors since 2017 has created what appears to