For better or worse, Social Security is our country's most successful social program. For more than 80 years, it's been making payments to eligible retired workers without fail, and is responsible for pulling more than 22 million people out of poverty each and every year.
These have not been the best of times for the banking industry. The average bank stock is down about 39% year to date, and the vast majority have suffered steep earnings losses in the first quarter. Cleveland-based KeyCorp (NYSE: KEY), which owns KeyBank, is no exception.
The spread of COVID-19 (more commonly known as coronavirus) has sparked increased concerns about a 2020 recession. The worry is that quarantines and a possible disruption to the supply chain could tip the economy into a recession. Even if a coronavirus recession doesn't occur,