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…
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The idea of breaking up big health insurance companies has suddenly entered the political conversation, even if it faces long odds of ever actually happening. Why it matters: Politicians across the ideological spectrum are increasingly convinced that those owning multiple parts of the health care system have a big role in making medical costs unaffordable. State of play: Rep….
Severe weather events are becoming increasingly common due to climate change, and the cost of home insurance is rising across the country as a result. On Wednesday, the House Committee on Commerce and Consumer Affairs voted unanimously in favor of a bill that would create a release valve for certain homeowners facing high premiums, though […]
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…
A Trump administration agency has sued other states that sought to regulate Kalshi, Polymarket and other prediction operations under their gambling laws.
A newly introduced proposal in the state Legislature would require private health insurers to cover treatments for infertility, a measure backers say would eliminate a financial barrier to starting a family in Michigan. "By requiring Michigan health insurers to cover standard care fertility treatments, we can give more people a fair chance to build their…
High health insurance premiums that were due earlier this year caused so much sticker shock that nearly 69,000 New Jersey residents didn't pay them. Those who failed to pay their premiums, which rose considerably after federal subsides expired this year, represent 14% of the 509,192 residents who signed up for insurance by Jan. 31, said the state Department of…
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…
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…
Federal Reserve chair Jerome Powell said on Wednesday that he will remain a central bank governor "for a period of time to be determined," citing attempted political interference. Why it matters: It extends Powell’s influence over monetary policy beyond the conclusion of his term as Fed chair on May 15. His term as one of seven Fed governors extends through January 2028. It denies…
This is shaping up to be a momentous week for the Federal Reserve. What comes next for the Fed’s leadership has come into clearer focus in the last three days, but one big question hangs over the institution. The big picture: On Wednesday, the Senate Banking Committee is set to advance Kevin Warsh’s nomination to lead the Fed, after Sen. Thom Tillis (R-N.C.) indicated his…
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…
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…
If your homeowners’ insurance renewal letter triggered sticker shock this year, you’re in a growing company. The average U.S. homeowners’ insurance premium surged to $2,377 annually in 2025 — a 33% increase from 2022, according to the Insurance Information Institute. In disaster-prone states like Florida, Louisiana, Texas, and California, increases of 50% to 100% have…
COLUMBIA — South Carolinians’ cost for replacing cracked or broken windshields could change with legislation advancing in the Statehouse. As long as they have comprehensive coverage, South Carolina drivers don’t pay out of pocket for windshield replacements. Whether due to hail, a falling branch, or a rock flung from the tires of a passing vehicle, […]
OKLAHOMA CITY – Saying the state’s second experiment with managed care is “failing to deliver on its promises,” the state’s chief law enforcement officer has asked for an audit of the Oklahoma Health Care Authority. Oklahoma Attorney General Gentner Drummond said the state’s Medicaid agency is failing to hold accountable three companies accountable administering the…
(The Center Square) —Louisiana property insurers would be required to offer premium discounts to homeowners who install fortified roofs under a new regulation being developed by the Louisiana Department of Insurance.
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…
The Trump administration is indefinitely delaying a Medicare pilot program to cover weight-loss drugs after health insurance companies voiced concerns about participating, federal officials said Tuesday. Why it matters: It’s a blow to the administration after President Trump last year touted deals with Eli Lilly and Novo Nordisk to cut prices on GLP-1 drugs in exchange for access…
