As inflation gathered force in 2021 and 2022, the Federal Reserve notoriously waited too long to raise interest rates, allowing consumer prices to continue to climb sharply, Fed officials now acknowledge. "The longer they wait, the greater the risk that something goes off the rails," says Mark Zandi, chief economist of Moody's Analytics. But Fed Chair Jerome…
The latest from Washington, D.C., impacting the insurance and financial services industries.
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NABIP members take concerns about employer-based insurance, health costs to Congress
Members of the National Association of Benefits and Insurance Professionals are asking Congress to preserve and strengthen employer-sponsored health insurance, address the cost of health care, and keep Medicare beneficiaries’ access to advisors and brokers during their annual Capitol Conference.
As the fight over immigration reached peak chaos in the U.S. Senate earlier this month, the Congressional Budget Office held a press conference nearby. The growing deficit is mainly the result of high interest rates, more people receiving Medicare and Social Security benefits, and rising healthcare costs. One key reason is that they expect rising immigration…
Durkin brings the latest business headlines from the floor of the New York Stock Exchange as markets close for trading Wednesday, February 21. Durkin- reporting from the New York Stock Exchange. Investors are reacting to minutes from the Federal Reserve's January meeting, which indicated that the Fed will hold off on cutting interest rates until it is…
Butch Parrish, a Swainsboro Republican, is the main sponsor of a new health care bill. A long-awaited health care proposal from House leaders would ease health care business regulations in some cases, but the measure is just as notable for what it does not do: expand Medicaid. It also raises the cap on the state's rural hospital tax credit program to $100 million a…
Consumer inflation in the United States cooled last month yet remained elevated in the latest sign that the pandemic-fueled price surge is only gradually and fitfully coming under control. Tuesday's report from the Labor Department showed that the consumer price index rose 0.3% from December to January, up from a 0.2% increase the previous month.
Twice this week, government reports did not show inflation falling as many had expected. And rates will keep rising until the Federal Reserve starts cutting interest rates. Interest rates fell rapidly after the Fed's November meeting when Chairman Jerome Powell all but said a rate cut was a certainty.
Medicare beneficiaries who are having trouble paying their out-of-pocket prescription drug costs would have the option of spreading those costs throughout the year instead of paying all at once, according to guidance issued by the Centers for Medicare and Medicaid Services.
