West Virginia hospitals charge commercial insurance prices that are among the highest in the United States, according to a report released Thursday. According to the report, West Virginia hospitals charged on average prices that are 337% of the rate that Medicare charges for the same services. Only two states — Florida and South Carolina — […]
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Last month, the Indiana Family and Social Services Administration (FSSA) announced it is seeking to recoup nearly $200 million in alleged improper payments from five “high-risk” attendant care agencies. The audit results were not just disappointing; they were deeply concerning. In a sample of claims, auditors found errors in nearly all claims reviewed, with some […]
Next Friday, May 15, marks the end of Jerome Powell’s term as chairman of the U.S. Federal Reserve, a key player in the U.S. economy, who in recent months has had clashes with President Donald Trump, who criticized him for not lowering interest rates. The president nominated Kevin Warsh to take over as chair of the central bank, but he does not meet the legal requirements…
For most of this year, Wall Street has been trading on a fairly simple idea: inflation was cooling, the Federal Reserve would eventually cut rates, and markets could keep pushing higher without much standing in the way. Goldman Sachs has pushed back its forecast for when the Federal Reserve could begin cutting interest rates, pointing to growing inflation…
Florida is poised to feel the greatest impact if national flood insurance is privatized as recommended.
Florida regulators say legislative reforms have lowered homeowners insurance rates, but many residents are seeing increases to their annual premiums.
A private financial operator who adheres to this creed will become the next chair of the Federal Reserve next week, if, as expected, the Senate gives him its final vote on Monday. Unlike the current chair, Jerome Powell, a moderate Republican inclined toward consensus, the nominee, Kevin Warsh, is a radical Trump supporter. He joined the Board of Governors under…
Jerome Powell’s tenure at the Federal Reserve presents a curious paradox. The chairman of the U.S. central bank will step down from his post this coming Friday, but he will remain a member of the Board of Governors for some time to come. It is located a few blocks from the White House in Washington, and its renovation served as a pretext for the Justice Department to…
The U.S. Senate is expected to confirm Kevin Warsh as the new chair of the Federal Reserve on Monday, a choice that ushers in an uncertain and dangerous era for the world’s leading central bank. Donald Trump’s attacks on the current chair, Jerome Powell, and the pressure to cut interest rates seriously undermine the principle of central bank independence and set a…
Data: Federal Reserve Bank of New York; Chart: Courtenay Brown/Axios The uncomfortable new normal for the U.S. economy: spending growth concentrated at the top of the income ladder, a split largely explained by wealth gains from financial assets. Why it matters: The K-shaped economy is real, though it is not particularly new. That’s the conclusion of research out Friday morning…
When Kevin Warsh takes over as Federal Reserve chair, he will face vocal internal opposition to any attempts to cut rates prematurely. His predecessor will also still be roaming the halls. Why it matters: Taken together, Wednesday’s news out of the William McChesney Martin Jr. Building means that Warsh will face serious constraints if he wants to rapidly steer the Fed in ways that…
Federal Reserve chair Jerome Powell said on Wednesday that he will remain a central bank governor "for a period of time to be determined," citing attempted political interference. Why it matters: It extends Powell’s influence over monetary policy beyond the conclusion of his term as Fed chair on May 15. His term as one of seven Fed governors extends through January 2028. It denies…
The Federal Reserve left interest rates steady Wednesday in what was almost certainly Jerome Powell’s final meeting as its leader, but there were the most internal dissents at a Fed meeting in 34 years. The big picture: The surprising dissents show that Kevin Warsh, whose confirmation to lead the Fed is pending in the Senate, will face significant internal resistance to delivering…
Rising liability insurance costs are prompting doctors to call on states to impose more limits on the damages patients can collect in malpractice cases. Why it matters: More than half of the states have enacted malpractice payout limits, in an effort to make insurance premiums more predictable. But groups led by the American Medical Association say that without more relief,…
This is shaping up to be a momentous week for the Federal Reserve. What comes next for the Fed’s leadership has come into clearer focus in the last three days, but one big question hangs over the institution. The big picture: On Wednesday, the Senate Banking Committee is set to advance Kevin Warsh’s nomination to lead the Fed, after Sen. Thom Tillis (R-N.C.) indicated his…
If the United States gets into the business of providing dollar liquidity to the United Arab Emirates and other Persian Gulf states battered by the Strait of Hormuz’s closure, it will amount to a novel use of an old power. The big picture: The Federal Reserve used swap lines with foreign central banks as a key tool to calm global financial disruptions in periods of stress, starting…
Data: KFF; Note: Enhanced ACA subsidies began in 2021 and ended in 2025.; Chart: Zachery Eanes/Axios The number of North Carolinians enrolled in health insurance plans through the Affordable Care Act has fallen significantly this year. More than 200,000 fewer people are getting insurance via the program this year, according to data compiled by KFF. Why it matters: The drop came…
Data: Bureau of Labor Statistics; Chart: Courtenay Brown/Axios The U.S. economy added 115,000 jobs in April, while the unemployment rate held at 4.3%, the Labor Department said on Friday. Why it matters: Employers kept hiring through the Iran war’s energy shock, a sign of labor market resilience that complicates the case for the Federal Reserve to cut interest rates. By the…
The Iran war is trapping the world’s central banks with an energy shock that simultaneously undermines growth and stokes inflation, with no good policy response to either. Each of the world’s most important central banks faces that dilemma in policy meetings this week. Why it matters: From Tokyo to Washington, central banks that were on track to normalize policy are now paralyzed,…
Pennsylvania’s Affordable Care Act marketplace has seen health insurance cancellations skyrocket so far this year. The big picture: Spiking insurance premiums, driven in part by recently expired federal subsidies, are pushing enrollment down, as higher costs for energy, gas and food strain household budgets. State of play: Roughly 45,000 Pennsylvanians have dropped coverage through…
