Business services in region jump in July, but still below year-ago levels, KC Fed survey says | Business

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Business services in a seven-state region that includes Oklahoma grew steadily in July, according to a survey released by the Federal Reserve Bank of Kansas City.

“In July, services activity rose solidly compared to previous months, but remained below year-ago levels,” Chad Wilkerson, vice president and economist at the Federal Reserve Bank of Kansas City. “Meanwhile, over a third of businesses reported higher business costs over the past six months, and expectations for future activity fell slightly.”

The Kansas City Fed’s monthly survey of Tenth District Services provides information on several indicators, including sales, revenue, employment and capital spending while identifying changes in prices of input materials and selling prices.

Survey participants represent a variety of industries, including retail and wholesale trade, automobile dealers, transportation, information, high-tech and professional services, real estate, education, restaurants, health services, tourism and other services firms.

The Federal Reserve Bank of Kansas City serves the

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Two Ex-Fed Officials Have a Faster Way to Distribute Money in Recession

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(Bloomberg Markets) — The coronavirus pandemic that shut down economies around the globe showed how crucial—and difficult—it is to get money swiftly to people who need it most in a crisis. Former central bank officials Simon Potter, who led the Federal Reserve Bank of New York’s markets group, and Julia Coronado, who spent eight years as an economist for the Fed’s Board of Governors, are among the innovators brainstorming solutions. They propose creating a monetary tool that they call recession insurance bonds, which draw on some of the advances in digital payments. Coronado, president and founder of MacroPolicy Perspectives LLC, and Potter, nonresident senior fellow at the Peterson Institute for International Economics, spoke with Bloomberg Markets to explain their idea.

BLOOMBERG MARKETS: How would recession insurance bonds work?

JULIA CORONADO: Congress would grant the Federal Reserve an additional tool for providing support—say, a percent of GDP [in a lump sum

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Personal Capital vs. Mint – Which is Best to Manage Your Money?

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Mint and Personal Capital are two web-based, money management platforms that are frequently compared to one another. While there are some similarities, the differences between the two render them very different services. Which you will prefer to work with will depend entirely on what you are looking for the platform to do.

Mint vs. Personal Capital–The Basic Comparison

Mint is an online personal budgeting platform. It pulls your entire financial life into one application. That includes your checking, savings, credit cards, investments, retirement accounts, and even your PayPal account. Mint enables you to look at your entire financial situation holistically, rather than in the bits and pieces.

Mint is one of the most popular budgeting applications available and is part of the TurboTax and Quicken families. The application enables you to manage virtually all aspects of your finances. And perhaps best of all, the application is completely free to use.

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