The Federal Open Market Committee (FOMC) will be conducting its April meeting this week as the U.S. COVID-19 economic shutdown drags on.With interest rates already essentially at zero and 11 different emergency lending programs already in place, some traders are growing concerned the Fed may be forced to cut interest rates into negative territory if the economy takes a turn for the worst.Kocherlakota's CommentsOn Friday, former president of the Federal Reserve Bank of Minneapolis Narayana Kocherlakota wrote an op-ed for Bloomberg suggesting the Fed may need to follow the example of a handful of European central banks and continue to cut interest rates into negative territory."Terrifyingly high unemployment and potentially rapid disinflation are powerful arguments in favor," Kocherlakota wrote. "Next week, the Fed should take interest rates at least a quarter percentage point below zero."The comments from Kocherlakota are a direct contrast to comments made by current Fed Chair Jerome Powell...
The National Private Truck Council recognized a group of private fleet professionals and member companies for their contributions to the private fleet community. ...
The National Private Truck Council (NPTC) and award program sponsor TransForce Group recently recognized a group of private fleet professionals and member companies for their contributions to the private fleet community. ...
Earnings season is here. And that means the biggest players in the market are getting ready to release very important earnings reports. One of those big players is Facebook (FB). The social media giant is set to report first-quarter numbers after the bell on Wednesday, April 29.Ahead of one of Wall Street’s most anticipated quarterly statements, RBC’s Mark Mahaney has been crunching the numbers. The 5-star analyst argues that given the pullback in ad spend “street estimates for Q1 are likely optimistic.” Mahaney calls for revenue, operating Income, and GAAP EPS of $16.78 billion, $5.55 billion, and $1.62, respectively. The figures are noticeably lower than the Street’s estimates of $17.42 billion, $6.05 billion, and $1.75.Key areas of focus for Mahaney are advertising revenue growth and user growth and engagement. This is hardly surprising, as the two areas have been impacted the most by COVID-19, though each in the opposite direction.In fact,...
Thousands of plaintiffs who say that Johnson & Johnson's baby powder and talc products caused cancer can go forward with their claims, but face limits on what expert testimony will be allowed in trials after a Monday ruling by a New Jersey judge. J&J faces more than 16,000-talc related lawsuits nationwide, the majority of which are pending before U.S. District Judge Freda Wolfson in New Jersey. The lawsuits allege that the company's talc products have been contaminated with asbestos and can cause ovarian cancer....
The Treasury Department and the Internal Revenue Service have issued 88 million individuals receiving payments worth nearly $158 billion in the program's first three weeks. Yahoo Finance’s Sibile Marcellus joins Seana Smith to discuss the details. ...
