Latest Articles

  • Food Prices Keep Rising

    By:
    Chris Gaetano
    |
    Jun 10, 2020
    While prices overall continued to deflate, food prices rose even higher in May after spiking in April, raising the risk of food insecurity for millions of people.
  • Fed Pledges to Maintain Low Rates, Projects 5 Percent GDP Gain in 2021

    By:
    Chris Gaetano
    |
    Jun 10, 2020
    The Federal Reserve intends to hold its plans steady for now, keeping interest rates at near zero and continuing on with its debt-buying programs, in anticipation that 2021 will bring a 5 percent gain in GDP.
  • IRS to Waive Fee for Replacing Lost or Destroyed Stimulus Payments

    By:
    Chris Gaetano
    |
    Jun 9, 2020
    Following reports of people accidentally throwing out stimulus payment cards thinking they were junk mail, the IRS said it will be waiving the penalty to replace them.
  • Federal Reserve Sweetens Terms for Main Street Lending Program

    By:
    Chris Gaetano
    |
    Jun 9, 2020
    The Federal Reserve has expanded the terms of its Main Street Lending Program to allow more small and medium-sized businesses to get support as the central bank prepares to formally launch the initiative.
  • Research Firm Predicts Up to 25,000 Store Closings by End of Year

    By:
    Chris Gaetano
    |
    Jun 9, 2020
    Despite the slow reopening of the economy, the COVID-19-battered retail sector is nonetheless predicted to experience up to 25,000 store closures this year as a result of the pandemic's economic chaos.
  • Nasdaq Reaches 10,000 for First Time, But Traders Wonder If Good Times Will Last

    By:
    Chris Gaetano
    |
    Jun 9, 2020
    Stocks pared losses from a dismal morning, allowing the tech-heavy Nasdaq index to breach 10,000 for the first time in its history. The Dow and the S&P 500, however, have not been so lucky.
  • Regulatory Roundup - June 2-8

    By:
    Chris Gaetano
    |
    Jun 8, 2020
    With so many regulators out there, it can be tough to keep track of all the decisions being made. This is the NYSSCPA's regular series that collects relevant regulatory announcements from the past week, and puts them in one place to help you stay on top of the issues.
  • PPP Extension Bill Signed Into Law

    By:
    Chris Gaetano
    |
    Jun 8, 2020
    A bill loosening some of the requirements around the Paycheck Protection Program (PPP) was signed into law over the weekend after clearing the Senate last week.
  • NYC Enters Phase 1 of Reopening

    By:
    Chris Gaetano
    |
    Jun 8, 2020
    New York City on Monday entered the first phase of fully reopening, with up to 400,000 people returning to work.
  • 'Misclassification' Error Eats Into Some Previously Reported Job Gains

    By:
    Chris Gaetano
    |
    Jun 8, 2020
    Last week's report that the economy added 2.5 million more jobs in May was rosier than the actual numbers, as the government conceded that a 'misclassification error' means the unemployment rate should have been 3 percent higher.