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Jun 29, 2021

Banks are about to start sending a lot of cash to shareholders

The Federal Reserve has released the nation’s biggest banks from pandemic limits on how much money they can return to shareholders. Banks are preparing to hike dividends and increase buybacks. Also, the latest round of data shows home prices went up yet again. Plus, in states where pandemic unemployment benefits have been cut early, some people left benefit rolls even before deadlines hit. Some of them have found work and some of them haven’t. And, the latest NFT: an orchestra in Tennessee working with a local composer who’s looking for more control over her work.

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Banks are about to start sending a lot of cash to shareholders — Spencer Platt/Getty Images

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Segments From This Episode

Housing is still soaring in pandemic economic recovery
The S&P CoreLogic Case-Shiller 20-city home price index, released Tuesday, jumped nearly 15% in April from the previous year. That is up from a 13.4% annual gain in March. “What we’re seeing is that housing is one of the sectors that really benefited disproportionately during the crisis and now in the aftermath,” said Lindsey Piegza, chief economist for Stifel Nicolaus. That as homes become not just somewhere to live but also somewhere to work and go to school. Piegza says she expects elevated support for home prices to continue, but she doesn’t think we’re in a bubble. because it’s not so much investment properties or second homes as it is a structural change in how Americans live, use space and commute, among other things, all while taking advantage of low interest rates.
Big banks set to hike dividends, stock buybacks as pandemic limits fall away
Marketplace’s Nova Safo has more.
Why people are dropping unemployment benefits before they run out
by Caroline Champlin
Olivier Douliery/AFP via Getty Images
In states cutting benefits sooner, deadlines might be motivating some to take job offers. But it’s more complicated than that.
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Composer turns to NFTs for “complete control” over her work
by Paige Pfleger
Courtesy of Stephanie Elder, Gateway Chamber Orchestra
The release of an orchestral NFT will allow its creator to decide how she releases her work and who will get paid.
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