MONSON— Daniel R. Moriarty, president and CEO of Monson Savings Bank, is happy that he was wrong about 2023.. He hopes his skepticism about 2024 is similarly misplaced. In December, the Federal Reserve kept its key interest rate unchanged, but board members hinted that rates could come back down in 2024..
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WASHINGTON- The Biden administration is rolling out new recordkeeping rules for U.S. investment advisers in its continued effort to clamp down on money laundering, illicit finance and fraud in the American financial system. An occupation rife with regulatory gaps that can be exploited to launder money and hide illicit wealth, new regulations for investment…
Millions of Medi-Cal beneficiaries can now save for a rainy day, keep an inheritance, or hold on to a modest nest egg, without losing coverage, thanks to an eligibility change phased in over the past year and a half. It also has opened the door for thousands who previously did not qualify for Medi-Cal, the health insurance program for low-income residents that…
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'…
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.
The monetary policy decision now is when to begin cutting interest rates. The interview was recorded Thursday from the Fed's headquarters in Washington. The Labor Department reported that the U.S. economy added 353,000 jobs in January, nearly double the number economists had forecast.
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…
Last week, a Washington, D.C., jury awarded Mann more than $1 million in punitive damages against two right-wing writers who had accused him of research fraud. They ruled that the online posts written by Rand Simberg and Mark Steyn breached the legal standards applied to defamation lawsuits involving a public figure such as Mann— that their writings asserted…
AUSTIN– Texas Attorney General Ken Paxton will be in a Houston court Friday in a nearly 9- year-old securities fraud case he is now seeking to dismiss. Paxton is accused of two felony fraud charges for allegedly courting investors into a Collin County tech company without disclosing that he was being compensated for the work. In 2014, the Texas State Securities…
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…
On Wednesday, Nir Meir, a now-bankrupt New York property developer, was indicted for the massive theft. Authorities accused him of a yearslong campaign of fraud that cost investors, contractors, and the city tens of millions of dollars. Explosive claim “These indictments depict allegations of widespread fraud within the real estate industry,” Manhattan District Attorney Alvin…
It was another record breaking year for Affordable Care Act enrollment in the U.S., with Florida taking the lead, once again. Florida has the highest enrollment of any state. In 2023, Hillsborough County had the seventh-highest enrollment in the nation, behind five other Florida counties and two in Texas.
FL health centers face financial strain without Medicaid reimbursement increase Florida's Community Health Centers are raising concerns about their own financial health due to what they've said are inadequate Medicaid reimbursement rates. The centers are urging lawmakers to adjust the rates to cover what they've found to be a gap of $106, or just over 42%, for every Medicaid…
California is going the biggest, pumping $12 billion into an ambitious Medicaid initiative largely to help homeless patients find housing, pay for it, and avoid eviction. Arizona is allocating $550 million in Medicaid funding primarily to cover six months of rent for homeless people. Oregon is spending more than $1 billion on services such as emergency rental…
An elderly woman plays slot machines in a casino on the Atlantic City Boardwalk in Atlantic City, New Jersey. (John Moore/Getty Images)Buried in the gambling expansion bill is a provision that might give give Alabama the chance to expand Medicaid. But no one seems to want to discuss it. Not Rep. Andy Whitt, R-Harvest, who has helped draft the legislation. On his way to the House…
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…