But IRS officials haven't ruled out adding such a feature to future versions of the site, and its debut has renewed long-standing discussions about why the United States lags in this respect. According to one 2022 study that included authors from the Federal Reserve and the Treasury Department, the IRS could correctly calculate about 45 percent of households'…
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Data: Federal Reserve Bank of New York; Chart: Axios VisualsSince the pandemic, wage gains for Black Americans have outpaced those for white people — but wealth inequality deepened, finds new research from the New York Fed. Why it matters: The research, which looks at changes from 2019 to the third quarter of 2023, demonstrates how firmly entrenched the racial wealth gap is in…
–Economists are starting to think the U.S. Federal Reserve is tightening monetary policy too much. That's the conclusion of results from a National Association for Business Economics survey released Monday, which showed 21% of respondents think the U.S. central bank's current monetary policy stance is "too tight," the largest proportion since mid-2010.
Jamie Dimon, JPMorgan CEO, raises an alarming concern: America is dangerously high on a ‘sugar high’ of debt. He likens the current economic situation to a precarious addiction, demanding urgent attention. Pandemic and Debt Surge Image Credit: Shutterstock / Rawpixel.com The pandemic era saw an enormous surge in US debt. Stimulus checks and Federal Reserve bond purchases…
The year 2023 was marked by a slowdown associated with social protests, political uncertainty and weather effects that contracted the economy, factors that affected insurance premiums. Although premiums grew 6.4% as of November 2023, they did so below the average of the last five years discounting the covid effect, according to the risk rating agency Apoyo&…
The answer, unlike in Bob Dylan' s song, is not in the wind, but in the hands of the governors of the Federal Reserve, who will be the ones to show their colleagues at the European Central Bank the way forward. Analysts at the Institute of International Finance reach this conclusion based on the evolution of current inflation, which is falling sharply, but above all on…
Alex Tannous, a 38- year-old Lebanese native, appeared Friday in federal court after the FBI arrested him when he returned from abroad to San Antonio for a child custody hearing hearing, records show. For many years, Tannous "claimed to be a businessman and diplomat from the United Arab Emirates with close ties to Emirati royalty," said a criminal complaint…
The Federal Communications Commission announced new rules on Thursday that make robocalls generated by artificial intelligence illegal. The FCC says AI-generated robocalls will be constituted as violations of the Telephone Consumer Protection Act. We're putting the fraudsters behind these robocalls on notice, "said FCC Chairwoman Jessica…
Federal documents say Saint Jovite Youngblood scammed millions in an epic fraud that ensnared at least 20 victims in Austin and across the nation.
Donald Trump has slammed the current Fed Chair, Jay Powell, for alleged “political” reasons for potentially cutting interest rates despite nominating him in 2017. Trump Targets Powell Image Credit: Shutterstock / Paul Brady Photography Donald Trump intensified his criticism of Federal Reserve Chair Jay Powell, accusing him of being “political.” Political Accusations Image…
Can revived insurance majors at Iowa universities help a vital Des Moines metro industry attract more workers, overcome its lethargy?
The Diocese of Trenton, which has been sued by more than 500 people alleging they were sexually abused by members of the clergy as children, is now being sued by the insurance company that provides its liability coverage. With potentially millions of dollars in damages at stake, Century Indemnity Co., which wrote the insurance policies for the diocese years ago,…
New York– Many victims of the massive storms now battering California about are to be hit with another heartbreak– discovering their insurance won't cover the damage. But in California, where drought, not flooding, had been the more common problem until recently, homeowners are about as prepared for flood damage as hurricane-prone Florida residents are for…
WASHINGTON- The nation's employers added 353,000 jobs in January in the latest sign of the economy's continuing ability to shrug off the highest interest rates in two decades. The strong hiring and wage growth could complicate or delay the Federal Reserve's intention to start cutting interest rates later this year. It comes as the intensifying presidential…
In the first Federal Reserve meeting of the year, the central bank paused rates for the fourth time in a row Wednesday. At a news conference following the announcement, Fed Chair Jerome Powell said there would likely be rate cuts this year, but based on current data, he didn't anticipate a rate cut at the Fed's next meeting March 19- 20. A decline in the federal funds…
Jan. 31— Cigna Group is exiting the Medicare Advantage business, selling it to Chicago- based Health Care Service Corp., company officials announced today. Health Care Service Corp. runs Blue Cross and Blue Shield plans in Illinois, Texas, Oklahoma, New Mexico and Montana. Cigna has its headquarters in Bloomfield, with the giant ranked last year as the fourth…
ATLANTA– The state of Georgia and the federal government remain at loggerheads over Gov. The state filed a lawsuit in federal court in Brunswick Friday seeking an extension of the five-year program being denied by the federal Centers for Medicare and Medicaid Services. In 2021, after Democrat Joe Biden succeeded Republican Donald Trump in the White House, CMS…
Washington, Feb 4- The president of the Federal Reserve, Jerome Powell, said in an interview broadcast Sunday that when thinking about possible interest rate cuts must act "carefully". "Growth is proceeding at a solid pace, the labor market is strong and with an economy this strong, we feel we have to approach the question of when to start cutting interest rates with…
"Meeting people online has opened the door to romance fraud," says Kim Casci-Palangio, program director of the peer support program at the nonprofit Cybercrime Support Network in Ann Arbor, Michigan. Reports to the Federal Trade Commission show consumers lost $1.3 billion in 2022 to romance scams. People are often eager to move relationships forward quickly,…
