A new state report found that 13 of Virginia's 36 rural hospitals are at risk of closing, including the New River Valley's Carilion Giles Community Hospital and LewisGale Hospital Pulaski. A combination of low market share, limited negotiating power with health insurers, low Medicare and Medicaid reimbursement rates, inflation, high fixed costs and…
WASHINGTON— Federal Reserve Chairman Kevin Warsh opened a new era of U.S. monetary policy Wednesday, with officials agreeing to leave interest rates unchanged despite inflation stuck well above their target. GUN RIGHTS: The U.S. Supreme Court ruled in favor of a marijuana user Thursday, limiting the application of a federal law that bars drug users from owning…
CHICAGO— Agricultural conditions were unchanged or declined in most of the Federal Reserve Districts, while cost pressures intensified from fuel and fertilizer spikes. The Federal Reserve System's Beige Book provided a snapshot of economic conditions collected on or before May 27. This document summarizes comments received from contacts outside the…
The Shelbyville City Council has a new member after Jason Rhodes was appointed to fill the Street Commissioner position Monday night. The appointment came at the end of a busy council meeting that included renewing the city's health insurance through Blue Cross and Blue Shield. The council also approved a $15,303 invoice from Dick Clark Plumbing for repairs…
-Newly installed Federal Reserve Chair Kevin Warsh is wasting no time signaling that the central bank may be headed toward a more aggressive stance on interest rates- a shift that could ripple through Wall Street, corporate borrowing, and the broader U.S. economy. He has repeatedly warned that cheap money can encourage excessive risk taking on Wall Street,…
Decades of loose monetary policy have been replaced by stubborn structural inflation, prompting the Federal Reserve to hold interest rates at agonizing highs. According to recent data from the Federal Reserve Bank of St. Louis, 30- year fixed mortgage rates have hovered at levels not seen in a generation, effectively paralyzing the existing home market.
A survey released this month by the insurance firm Northwestern Mutual says that many Americans, including some in their 50 s and 60 s, rely on their parents for financial help. The Federal Reserve also conducts an annual survey on financial well-being, and it also reported an increase in the reliance on parents to pay the bills. In many ways this is not surprising;…
