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Treasury Secretary Mnuchin is moving $455 billion of unspent stimulus money into a fund the incoming Biden administration can't deploy without Congress

2 monthes ago   |   By Business Insider

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Treasury Secretary Steven Mnuchin is moving $455 billion in unspent stimulus money into a fund that the incoming Biden administration cannot deploy without Congress, Bloomberg reported on Tuesday.
That amount includes money that Mnuchin is yanking from the Federal Reserve and unused loans for companies. The funds will be deposited into the Treasury's General Fund , which requires legislative approval to use the money elsewhere. The Treasury Department did not immediately respond to a request for comment.
The move, experts say, would likely undercut the ability of...
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Transition In Full Swing: Biden Given Access To Federal Agencies, Intel Briefings

Transition In Full Swing: Biden Given Access To Federal Agencies, Intel Briefings

2 monthes ago   |   By Forbes

‘America is back. Ready to lead the world, not retreat from it,' Biden said while announcing several foreign policy nominees.
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Trump loyalist put in top Pentagon post after purge 2 weeks ago now leads transition to incoming Biden administration

Trump loyalist put in top Pentagon post after purge 2 weeks ago now leads transition to incoming Biden administration

2 monthes ago   |   By Business Insider

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The Department of Defense is officially making preparations for the incoming Biden administration, and the senior defense official leading the transition is a Trump loyalist who started at the Pentagon just two weeks ago following a leadership purge.
Although he has not yet conceded, President Donald Trump tweeted Monday evening that he is allowing the start of the transition process, permitting the General Services Administration Administrator Emily Murphy to make certain resources and services available to the incoming administration.
Pentagon personnel have made...
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Radian: U.S. Housing Market ‘Resilient' During Challenging Year

Radian: U.S. Housing Market ‘Resilient' During Challenging Year

There is no question that 2020 will go down as challenging year in the history books, across all segments of the markets and everyday life. One thing that remained resilient... Read more ...

The stock market is in risk-on mode as a sharp decline in COVID-19 cases...

The stock market is in risk-on mode as a sharp decline in COVID-19 cases means a big economic surprise is possible, Fundstrat's Tom Lee says

Summary List Placement A sharp decline in COVID-19 cases is leading to a newfound risk-on mode for the stock market, Fundstrat's Tom Lee said in a note on Thursday. The bullish... Read more ...

What you need to know on the markets this week: Biden's spending plans...

What you need to know on the markets this week: Biden's spending plans, bitcoin's blues and an unloved dollar vye with the first Fed meeting and a look at US GDP

Summary List Placement Here are the big themes we're looking at in the coming week, plus a chart of Big Tech performance around the world. Joe Biden takes office with a... Read more ...

This day trader just made the biggest trade of his career exploiting the...

This day trader just made the biggest trade of his career exploiting the momentum around bitcoin. Here's how he did it - and his 4-step strategy for identifying speculative themes to trade

Summary List Placement Ryan Hasson, a senior trader at Kershner Trading Group/SMB Capital, just made the biggest trade of his career on an over-the-counter bitcoin stock. Five... Read more ...

An early bitcoin investor says the best time to buy is when nobody's talking...

An early bitcoin investor says the best time to buy is when nobody's talking about it - and warns this isn't the first crypto bubble

Summary List Placement An early bitcoin adopter says the best time to buy is when no one's talking about it. He started out with an initial purchase of 2.5 bitcoins in 2013... Read more ...

US stock market bubble may pop soon after Wall Street's coronavirus bonanza...

US stock market bubble may pop soon after Wall Street's coronavirus bonanza, Bank of America warns

The second-largest US lender, Bank of America, has warned that the “extreme rally” seen after the market crash triggered by the pandemic formed a bubble in asset prices, and it... Read more ...

Existing-Home Sales: Increase Reaches Highest Level Since Before Great Recession

Existing-Home Sales: Increase Reaches Highest Level Since Before Great Recession

December hit another historic peak for existing-home sales, experiencing the highest level since 2006 after rising 0.7 percent from the previous month. According to the latest... Read more ...

Zillow: Home Values Continue to Shatter Growth Records

Zillow: Home Values Continue to Shatter Growth Records

Home prices have been growing for some time, and they continued their “meteoric rise” in December, according to Zillow®'s latest Real Estate Market Report. According to Zillow... Read more ...

Bitcoin whales: what are they - and how are they affecting the...

Bitcoin whales: what are they - and how are they affecting the cryptocurrency's price?

Summary List Placement A bitcoin whale is a term that refers to individuals or entities that hold large amounts of bitcoin, according to Investopedia. There are around 1,000... Read more ...

China's century: Yuan to dethrone US dollar as major global currency, trend...

China's century: Yuan to dethrone US dollar as major global currency, trend forecaster tells Max Keiser

China has become the only major economy left standing after the coronavirus pandemic rattled global trade and is set to strip the US of its leading positions soon, Gerald... Read more ...