Economy

Economy

Behind The Pandemic Purchases We Won't Use Until Later

4:16pm February 19, 2021

by Kat Lonsdorf

What's the point of buying something now that you can't even use during the pandemic? Social scientists say there is value in anticipation — in giving yourself a concrete way to look forward.

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Debate Over Student Loan Forgiveness Hinges On 2 Numbers: $10,000 Vs. $50,000

5:28pm February 18, 2021

by Elissa Nadworny

The Biden administration is trying to figure out how much student debt to forgive and how to go about doing it — through executive action or legislation.

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Economy

'I Am Not A Cat ... I Am Not A Hedge Fund': Trader Roaring Kitty Tells Congress

5:10pm February 18, 2021

by Ryan Kailath

The House Financial Services Committee held a hearing where members probed major players in the GameStop and meme stock story.

Increased household responsibilities during the pandemic have forced many working mothers to scale back on their hours or to leave the workforce entirely.

Almost A Year Into The Pandemic, Working Moms Feel 'Forgotten,' Journalist Says

2:46pm February 18, 2021

by Terry Gross

Claire Cain Miller says many working moms have scaled back on their hours or left the workforce entirely in response to new household burdens. "There were never the structures in place to help us."

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Shoppers line up near sale signs at a Burlington store in New York in June.

How A Retail Chain Without A Website Powered Through The Pandemic

8:08pm February 17, 2021

by Alina Selyukh

Burlington shut down online sales in March right before coronavirus lockdowns. But it's among the discount retailers that have endured the pandemic surprisingly well, even opening new stores.

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Economy

U.S. Retail Spending Jumps, Coincident With Federal Relief Payments

5:44pm February 17, 2021

by Scott Horsley

Retail spending rebounded strongly last month after three months of decline. The jump was fueled partly by $600 federal relief payments, which hit people's bank accounts at the beginning of the month.

People walk in front of stores in New York's Herald Square. Retail sales soared 5.3% last month compared to December as U.S. families began receiving new federal coronavirus relief checks.

Shoppers Splurged In January As New Stimulus Checks Arrived

10:57am February 17, 2021

by Alina Selyukh

Retail sales soared 5.3% last month compared to December, much more than anticipated, as U.S. families began receiving new federal coronavirus relief checks.

Demonstrators gather at a McDonald's restaurant as they demand an increase in the minimum wage to $15 an hour on April 14, 2016, in Miami.

What McDonald's Shows About The Minimum Wage

6:23pm February 16, 2021

by Greg Rosalsky

McDonald's is one of the nation's largest employers of low-wage workers. And because it's everywhere, it's a great place to test the effects of minimum wage laws.

Student Loan Forgiveness: Democrats Debate How Much To Cancel

5:47am February 16, 2021

by Elissa Nadworny

The Biden administration is debating how much student loan debt to cancel per person. Who benefits when you cancel $10,000 in student loan debt versus $50,000?

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On the day of the official change to decimalized currency on Feb. 15, 1971, Lord Fiske, chairman of the Decimal Currency Board, makes a purchase at a Woolworths store in London.

U.K. And Ireland Celebrate 50 Years Since 'Decimal Day'

5:25pm February 15, 2021

by Laurel Wamsley

Until Feb. 15, 1971, Britain had 240 pennies to a pound. There were also two farthings in a ha'penny, three pennies in a bit, two shillings in a florin, and five shillings in a crown.