The Biden administration is cracking down on short-term health insurance plans that aren’t required to meet the Affordable Care Act’s consumer protection mandates.
WASHINGTON- Consumer inflation remained persistently high last month, boosted by gas, rents, auto insurance and other items, the government said Wednesday in a report that will likely give pause to the Federal Reserve as it considers how often- or even whether- to cut interest rates this year. The Fed closely tracks core prices because they tend to provide a good…
Austan Goolsbee, left, testifies on Capitol Hill on the state of the U.S. economy. At the time, he was chairman for the Council of Economic Advisers under President Barack Obama, and he has since become president of the Federal Reserve Bank of Chicago. Jobs have been growing and the stock market has been soaring, but many U.S. consumers don’ t feel the economy is working…
More people are coming to believe in the strength of the U.S. economy. "The U.S. economy is really firing on all cylinders, creating more jobs than anticipated," said George Lagarias, chief economist at Mazars. Jamie Dimon, CEO of JPMorgan Chase, gave pointed commentary on interest rates.Bloomberg/Getty Images.
WASHINGTON- Ever since the Federal Reserve signaled last fall that it was likely done raising interest rates, Wall Street traders, economists, car buyers, would-be homeowners- pretty much everyone- began obsessing over a single question: When will the Fed start cutting rates? The Fed typically cuts only when the economy appears to be weakening and needs help.
Nonfarm payrolls surged by 303,000, topping the Dow Jones projection of 200,000 and exceeding February's revised increase of 270,000, as reported by the Labor Department's Bureau of Labor Statistics. The report's strength is under close scrutiny, especially with the Federal Reserve evaluating its next steps in monetary policy amidst a strong labor…
Virginia Foxx, R- N.C., "just kneecapped 33 million seniors," a group at least one analyst says may not realize it until after already casting a vote on whether President Joe Biden stays in the White House. Greg Murphy, R- N.C., two weeks ago forecasted "a day of reckoning" for Medicare Advantage plans. The Centers of Medicare& Medicaid Services on Monday made the cut official,…
Federal Reserve policymakers appear poised to cut interest rates three times this year— and sadly, this could boost inflation and slow longer-term economic growth. Those estimates are based on the federal policies remaining unchanged, but President Biden and former President Donald Trump are hardly the souls of fiscal restraint. Democrats need to win the…
The Biden administration is cracking down on short-term health insurance plans that aren’t required to meet the Affordable Care Act’s consumer protection mandates.
President Joe Biden on Thursday announced new steps to protect consumers who buy short-term health insurance plans that critics say amount to junk. The White House said the rule is part of Biden's efforts to reduce costs for consumers, which he has been promoting extensively as he seeks reelection in November. “The president really believes the American…
RALEIGH, N.C.- President Joe Biden and Vice President Kamala Harris on Tuesday promoted their health care agenda in the battleground state of North Carolina, arguing that Democrats like themselves would preserve access to care while Republicans would reverse gains made over the past decade and a half. Fourteen years after President Barack Obama signed the…
On March 18, President Joe Biden signed "Advancing Women's Health Research and Innovation," an executive order administration officials declared marks a significant milestone in prioritizing women's health on the national agenda. The White House exclaimed that the executive order underscored the urgent need to bridge existing gaps in biomedical…
House Republicans released a new budget proposal that would raise the Social Security retirement age, restructure Medicare, ban abortion and threaten fertility treatments. On Social Security, the RSC budget plan proposes "modest adjustments to the retirement age for future retirees to account for increases in life expectancy," but does not specify what that…
A committee of Federal Reserve officials voted Wednesday to keep interest rates at a 22- year high after unexpectedly high job gains and inflation delayed plans for possible rate cuts. The Federal Open Market Committee, the panel of Fed officials responsible for setting borrowing costs, voted to keep its baseline interest rate at the range of 5.25 to 5.5…
The CBO further projected that the Social Security Old-Age and Survivors Insurance trust fund will be exhausted in 2033, the Medicare Hospital Insurance trust fund in 2035, and the Highway Trust Fund in 2028.. Maya MacGuineas, president of the Committee for a Responsible Federal Budget, said the new report should serve as a wake-up call for Congress.
WASHINGTON– Federal Reserve officials signaled Wednesday that they still expect to cut their key interest rate three times in 2024, fueling a rally on Wall Street, despite signs that inflation remained elevated at the start of the year. Speaking at a news conference, Chair Jerome Powell said the surprising pickup in inflation in January and February hadn't…
—Two weeks ago, Chair Jerome Powell suggested that the Federal Reserve was“ not far” from gaining the confidence it needed that inflation was headed sustainably toward its 2% target level, which would allow it to start cutting its benchmark interest rate. It was a tantalizing suggestion, because a cut in the Fed's key rate has typically boosted the economy by…
A survey of CFP professionals found that American investors are overwhelmingly optimistic, with 6 in 7 CFP professionals reporting that their clients have a positive outlook for 2024 despite ongoing economic uncertainty.
President Biden, whose spending policies have been blamed for skyrocketing mortgage rates, is seeking ways to cut costs for homebuyers by trimming fees associated with loans and eliminating title insurance for some borrowers. The Federal Reserve has raised rates several times during the Biden administration to help stabilize near-record inflation.