Getting inspiration from the Greatest Generation’s economic hardship and shared sacrifice


There’s been a meme going around the internet pointing out, “Your grandparents were called to war. You’re being called to sit on your couch. You can do this.”

It seems extremely important to remember that there are things that are truly unprecedented and new and those that are, however tragically, new to us.

Yes, of course, there are elements of this tragedy, now playing out, that are truly unprecedented. The speed of the economic shutdown, the emptiness of major cities and a few other realities with which we must come to terms.

Other aspects are just new to us. The

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Mortgage bankers warn Fed purchases of mortgages unbalanced market, forcing margin calls


Federal Reserve Chair Jerome Powell holds a news conference following the Federal Open Market Committee meeting in Washington, December 11, 2019.

Joshua Roberts | Reuters

The Mortgage Bankers Association in a dire letter to regulators Sunday warned that the U.S. housing market is “in danger of large-scale disruption,” due to efforts by the Federal Reserve that were intended to help rescue the mortgage market.

At issue are the Fed’s unprecedented $183 billion of purchases last week of mortgage-backed securities. The purchases were meant to drive down rates, and they did.

But they also effectively blew up a widespread hedge that

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What it would take for the Fed to start buying stocks during coronavirus crisis


Federal Reserve Chairman Jerome Powell holds a news conference following a closed two-day Federal Open Market Committee meeting in Washington, September 18, 2019.

Sarah Silbiger | Reuters

The Federal Reserve thus far has unleashed what’s frequently been called a bazooka in its efforts to calm markets. Its next step could be to go nuclear.

Should conditions on Wall Street deteriorate significantly, the central bank could go where it’s never gone before, into the equity market where it would take a passive interest in the performance of stocks, according to market analysts and economists.

The Fed already has unloaded an unprecedented

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Dow futures drop as Wall Street gives back some of last week’s gains


A person wearing a face mask walks along Wall Street after further cases of coronavirus were confirmed in New York, March 6, 2020.

Andrew Kelly | Reuters

U.S. stock futures opened lower on Sunday night following sharp gains last week while the number of coronavirus cases in the U.S. keeps rising at an alarming rate.

Dow Jones Industrial Average futures fell more than 300 points, or 1.8%. S&P 500 and Nasdaq 100 futures were both down more than 1%. 

The Dow last week posted its biggest weekly gain since 1938, surging more than 12%. The S&P 500 and Nasdaq are

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