Data: Federal Reserve Bank of New York; Chart: Courtenay Brown/Axios The uncomfortable new normal for the U.S. economy: spending growth concentrated at the top of the income ladder, a split largely explained by wealth gains from financial assets. Why it matters: The K-shaped economy is real, though it is not particularly new. That’s the conclusion of research out Friday morning…
INN Insider News
The Department of Justice said Friday it will drop a criminal probe into Federal Reserve chair Jerome Powell, a sharp pivot in an unprecedented investigation into the nation’s top central banker. Why it matters: It opens the path for President Trump’s pick to lead the Fed, Kevin Warsh, to be confirmed to the post after a standoff with Sen. Thom Tillis (R-N.C.), who blocked…
When Kevin Warsh takes over as Federal Reserve chair, he will face vocal internal opposition to any attempts to cut rates prematurely. His predecessor will also still be roaming the halls. Why it matters: Taken together, Wednesday’s news out of the William McChesney Martin Jr. Building means that Warsh will face serious constraints if he wants to rapidly steer the Fed in ways that…
If the United States gets into the business of providing dollar liquidity to the United Arab Emirates and other Persian Gulf states battered by the Strait of Hormuz’s closure, it will amount to a novel use of an old power. The big picture: The Federal Reserve used swap lines with foreign central banks as a key tool to calm global financial disruptions in periods of stress, starting…
Mastercard, Visa, and JPMorgan Chase & Co. are the three Financial stocks to watch today, according to MarketBeat’s stock screener tool. Financial stocks are shares of companies in the financial sector—banks, insurance companies, brokerages, asset managers, payment processors, REITs and other firms whose primary business is providing financial services. Investors view them as a…
Thousands of Trump-loving seniors packed a school gymnasium to see the president in Florida, while hundreds protested nearby.
Kestra Private Wealth Services LLC trimmed its position in Public Storage (NYSE:PSA – Free Report) by 45.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,371 shares of the real estate investment trust’s stock after selling 3,618 shares during the quarter. Kestra Private…
Pictet Asset Management Holding SA lowered its stake in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT – Free Report) by 27.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,267 shares of the transportation company’s stock after selling…
Obermeyer Wealth Partners trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) by 4.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 192,618 shares of the semiconductor manufacturer’s stock after selling 8,915 shares during the quarter. Broadcom makes up 3.0%…
The claim: Democrats say Republicans have ignored voters' concerns about affordability, including health insurance as they supported President Donald Trump's 2025 tax and spending bill. "As a result of the' Big Beautiful Bill,' 15 million Americans have been thrown off the healthcare that they need," Sen. Bernie Sanders, I-Vt., said during a committee hearing that…
Deanna Adkins, 28, filed for bankruptcy in February. Her 66- year-old mother-in-law was scammed into homelessness before moving in with Adkins and her husband in Florida, she said, so Adkins bought her clothes and furniture– and then things for the new baby. A March study from Choice Mutual, a life insurance agency, found the average yearly cost to support both…
California insurance commissioner used to be considered a cushy landing pad for politicians to collect a paycheck while building statewide name recognition. That's because recent deadly wildfires exposed a crisis hiding in plain sight. Insurance premiums in California hadn't sufficiently risen to account for climate change, poor forest management and…
Rocket Companies, Joint Stock Company Kaspi.kz, and UP Fintech are the three Fintech stocks to watch today, according to MarketBeat’s stock screener tool. Fintech stocks are shares of publicly traded companies that develop or provide financial technology—software, platforms, and services that digitize, automate, or improve payments, banking, lending, wealth management, insurance,…
Fairfax Financial TSE: FFH reported a strong start to fiscal 2026, with President and COO Peter Clarke highlighting higher operating income and improved underwriting results during the company’s first-quarter earnings call. Clarke said operating income from Fairfax’s insurance and reinsurance companies—adjusted to an undiscounted basis and before risk margin—was CAD 1.2…
Globe Life NYSE: GL held its 45th annual shareholders’ meeting virtually at 10 a.m., with Co-Chairman and Co-CEO Matthew Darden and Co-Chairman and CEO Frank Svoboda presiding. Svoboda said the company hosted the meeting online again this year “to help facilitate attendance and participation by company shareholders.”
The Reserve Bank of Australia is poised to hike rates this week as markets eye the critical U.S. jobs report.
The Federal Reserve left interest rates steady Wednesday in what was almost certainly Jerome Powell’s final meeting as its leader, but there were the most internal dissents at a Fed meeting in 34 years. The big picture: The surprising dissents show that Kevin Warsh, whose confirmation to lead the Fed is pending in the Senate, will face significant internal resistance to delivering…
To understand what the global economy will do this year, you have to understand what happens next in the Iran war. The outlook for the war and its aftermath, and what that means for the free passage of energy through the Strait of Hormuz, is the global economic outlook. That’s the uncomfortable reality hanging over the International Monetary Fund and World Bank Group spring…
Shares of payment giant Visa NYSE: V have been under pressure through much of 2026. By late March, shares had fallen more than 15% on the year. One contributing factor to this is the conflict in Iran. Visa’s payments business finds strength on the back of general economic growth, as it results in more and…
