Author: Wolf Richter

“Monetizing Privacy”: The Fed Fans Out, Touting the “Digital Dollar.” This Time, How Consumers Would Benefit

“Monetizing Privacy”: The Fed Fans Out, Touting the “Digital Dollar.” This Time, How Consumers Would Benefit by Wolf Richter for Wolf Street But the problemita of pulling the rug out from under the entire banking system still needs to be addressed....

Taxpayers Face $435 Billion in Student-Loan Losses, Already Baked in: Leaked Education-Department Study

Taxpayers Face $435 Billion in Student-Loan Losses, Already Baked in: Leaked Education-Department Study Most of the losses come from established income-based repayment programs that include debt forgiveness at the end. No one has ever put a number to it until...

The Mnuchin-Powell Affair over the Fed’s “Special Purpose Vehicles” in Dollars & Effects

The Mnuchin-Powell Affair over the Fed’s “Special Purpose Vehicles” in Dollars & Effects Why do bondholders and leveraged speculators have to be enriched, instead of providing fiscal relief to the unemployed and small businesses? That’s the question. By Wolf Richter for WOLF STREET....

No Payment, No Problem: In Rosy World of Forbearance, Official Delinquencies Plunge, Credit Scores of Delinquent Borrowers Jump

No Payment, No Problem: In Rosy World of Forbearance, Official Delinquencies Plunge, Credit Scores of Delinquent Borrowers Jump Credit-score algos got fooled by forbearance. Weirdest economy ever where no one knows what’s going on anymore. By Wolf Richter for WOLF STREET. So what...

Stimulus Fatigue? Retail Sales Wane at Many Brick & Mortar Stores. Department Stores Progress to Zombiehood. But Online Sales Surge to Record

Stimulus Fatigue? Retail Sales Wane at Many Brick & Mortar Stores. Department Stores Progress to Zombiehood. But Online Sales Surge to Record My 13 whiplash-charts by retailer category. By Wolf Richter for WOLF STREET. First signs of exhaustion after a blistering Pandemic-inspired weirdest-economy-ever...

How the Pandemic Scrambled Long-Term Driving Patterns: Americans Already Drove Less, Hidden by Population Growth

How the Pandemic Scrambled Long-Term Driving Patterns: Americans Already Drove Less, Hidden by Population Growth Bounce back to what? The Pandemic Scrambled Long-Term Trends in both directions. By Wolf Richter for WOLF STREET. Total miles driven in September on all roads and streets...

Southwest and Delta Douse Hopes for Recovery in Q4. TSA Checkpoint Screenings Already Agree

Southwest and Delta Douse Hopes for Recovery in Q4. TSA Checkpoint Screenings Already Agree The curious effect of the election and now possibly the surge in virus infections. By Wolf Richter for WOLF STREET. This morning, Southwest Airlines reported operational data for October...