Economic News

Scott Bessent, the nation's new Treasury secretary, is a product of the investment world. His private sector background brings to the government a different set of tools and ideas that may lessen the burden on the Federal Reserve Bank in its fight against inflation. The fly in the ointment over the last several decades has been that while the central bank has been…

Getting your Trinity Audio player ready… In 1980, newly elected President Ronald Reagan faced a serious problem. Busy solving Reagan's inflation was the chair of the Federal Reserve, a tall, athletic, cigar-smoking man named Paul Volcker.

—Australia’ s central bank on Tuesday reduced its benchmark interest rate for the first time since October 2020 as the nation’ s inflation cools. The Reserve Bank of Australia reduced the cash rate by a quarter percentage point from 4.35% to 4.1% at its first board meeting for the year. Bank Governor Michele Bullock later advised against believing economic…

Elon Musk is considering to have Ron Paul head up an audit of The Federal Reserve.

Some Republicans are looking to the next fiscal year to try to codify President Trump's orders to cut federal spending as a divided Congress barrels toward a shutdown deadline. Trump voiced optimism this week that cuts pursued by his Department of Government Efficiency, headed up by tech billionaire Elon Musk, would "get a very easy vote" in the GOP-led Congress,…

Inflation concerns may very well have delivered Donald Trump to the presidency. During the campaign, he routinely harped on the elevated cost of eggs and bacon and argued that his predecessor Joe Biden— together with Federal Reserve Chair Jerome Powell— had enabled an“ inflation nightmare.”. The latest University of Michigan survey showed that consumers expect…

—After three cuts to its key interest rate last year, Federal Reserve officials, led by Chair Jerome Powell, have signaled that they are in a new phase of watching and waiting. They'd like to see inflation fall further and gauge what impact that new policies from President Donald Trump, particularly tariffs, will have on the economy before they reduce borrowing…

Congressional Republicans are targeting Medicaid, the government health insurance program for low-income Americans, for hundreds of billions of dollars in savings to help pay for sweeping tax cuts, but the extent of reform is creating intraparty divisions. House Speaker Mike Johnson, Louisiana Republican, insists his conference does not plan to cut…

–The EUR/USD went into this weekend near the 1.04870 level.– Earlier on Friday the EUR/USD traded around the 1.05115 ratio as rapid buying continued after the 1.03150 vicinity was briefly challenged.– Economic data from the U.S showed that inflation remains problematic regarding its stubborn nature and this means the Federal Reserve will be hard pressed to…

That has dashed any hope that the U.S. central bank would loosen monetary policy further in the months ahead. The most recent University of Michigan survey of consumers indicated that inflation expectations for the next year increased to 4.3 percent in February. While a stunned Wall Street pointed to seasonal factors as the culprit, we all know that is a load of…

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14 A Proxy Statement Pursuant to Section 14 of the Securities Exchange Act of 1934☑ Filed by the Registrant☐ Filed by a Party other than the Registrant CHECK THE APPROPRIATE BOX:☐ Preliminary Proxy Statement☐ Confidential, For Use of the Commission Only☑ Definitive Proxy Statement☐…

SHARON– When Russell Mills reported at the Shenango Valley Chamber of Commerce’ s Economic Breakfast Wednesday that Mercer County’ s housing prices surged 17% over the past year it startled many– including Mills. As the regional executive of the Pittsburgh branch for the Federal Reserve Bank of Cleveland, Mills pulled together local and national economic…

The Commerce Department on Wednesday reports on how many new apartments and single-family homes builders broke ground on in January. Also Wednesday, the Federal Reserve releases minutes from its most recent policy meeting. At that meeting in late January, the U.S. central bank left its benchmark interest rate alone for the first time since summer.

Approval expires December 31, 2027. Board of Governors of the Federal Reserve System. I, the undersigned CFO of the named holding company, attest that the Parent Company Only Financial Statements for Large Holding Companies for this report date have been prepared in conformance with the instructions issued by the Federal Reserve System and are true and…

The Consolidated Financial Statements for Holding Companies is to be prepared in accordance with instructions provided by the Federal Reserve System. I, the undersigned CFO of the named holding company, attest that the Consolidated Financial Statements for Holding Companies for this report date have been prepared in conformance with the instructions…

—Asian stocks were mostly up Friday on the back of a near-record rally on U.S. stocks, as investors paid little attention to U.S. President Donald Trump’ s latest tariff threats. “There are much tailwinds for risk sentiments in the region to tap on, with the positive handover in Wall Street, weaker US dollar and lower Treasury yields,” Yeap Jun Rong, a market strategist at…

But while economic growth along with Federal Reserve interest rates cuts "would be rocket fuel for commercial real estate," the capital markets are skeptical of how low rates will fall in 2025. As 2024 ended, area commercial real estate firms summarized their views in their year-end Jacksonville area market reports. Here are summaries based on research by…

The bill comes five months after the General Assembly, by veto override, enacted a law prohibiting "payments to the state using Central Bank digital currency or participation by the state in Federal Reserve Branch testing of Central Bank digital currency." Nationally last year, the Financial Innovation and Technology for the 21st Century Act– known as FIT21–…

Some Republicans are looking to the next fiscal year to try to codify President Trump's orders to cut federal spending as a divided Congress barrels toward a shutdown deadline. Trump voiced optimism this week that cuts pursued by his Department of Government Efficiency, headed up by tech billionaire Elon Musk, would "get a very easy vote" in the GOP-led Congress,…