Legislation introduced this week would establish parity for 403(b) retirement plans serving teachers, hospital workers, clergy, and non-profit employees.
The latest from Washington, D.C., impacting the insurance and financial services industries.
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The Federal Reserve began raising rates last March, and 10 straight hikes have pushed the fed funds rate to a 16- year high. It looks like the Federal Reserve has finished raising interest rates, at least through its next meeting in June. The Fed seeks to drive inflation down to 2% from the 4.2% total for its favored price indicator in the 12 months through March.
Small businesses– the heartbeat of the U.S. economy– are beginning to feel the pinch of tighter credit conditions as the Federal Reserve continues to increase borrowing costs. That’ s in large part brought on by the actions of the Federal Reserve, which has been raising borrowing costs for companies and consumers for over a year in an effort to tame inflation and is…
WASHINGTON- The Federal Reserve is on track to raise its benchmark interest rate for the 10th time on Wednesday, the latest step in its yearlong effort to curb inflation with the fastest pace of hikes in four decades. Yet economists and Wall Street traders will be more interested in what the Fed and Chair Jerome Powell signal in a statement and at a news conference…
Inflation, which is the general rise in prices of goods and services, hurts our pockets, so to relieve that hurt, the Federal Reserve raises interest rates to make it more difficult for us to access money so we spend less and the suppliers are then compelled to lower their prices, due to lower demand for their products. In spite of the Fed raising interest rates…
Key measures of prices and wages remained high in March, keeping the Federal Reserve on track to raise interest rates next week for the 10th time since March of last year in its drive to defeat high inflation. And a separate measure issued Friday by the Labor Department showed that workers' pay and benefits rose 1.2% in the first three months of this year, faster…
—The government’ s report Thursday that the economy grew at a 1.1% annual rate last quarter signaled that one of the most-anticipated recessions in recent U.S. history has yet to arrive. Many economists, though, still expect a recession to hit as soon as the current April-June quarter— or soon thereafter. The Federal Reserve has raised its benchmark interest rate…
Health insurers say free preventive care will continue while lawsuit is appealed
Several groups representing health insurers told Congress that insurers will continue to offer free preventive services while a lawsuit challenging the Affordable Care Act’s requirement continues its way through the court system.
DACA recipients would have access to health care through Affordable Care Act marketplaces, Medicaid, and the Children’s Health Insurance Program.
America’s Health Insurance Plans launched an advertising campaign targeting Big Pharma.
Telehealth, PBM reform legislation among health care issues pending in DC
Some legislation relating to health care still has a chance of getting through Washington even with a divided Congress.
In between near-constant pummeling by Republicans, Department of Homeland Security Secretary Alejandro Mayorkas revealed at a congressional hearing last week that a new federal system for setting flood insurance premiums needs more tweaking than expected.
President Biden’ s choice to lead the Labor Department faces an uncertain fate within the Democratic-controlled Senate because of her tenure overseeing a California unemployment agency that paid out billions in fraudulent benefits at the height of the coronavirus pandemic. The uncertainty comes as business groups and Republicans have mobilized in…
If the Republican-controlled Congress and Mr. Biden cannot reach an agreement on the debt limit in the next several weeks, the government could default on its bills, resulting in economic chaos in the U.S. and across the globe. Mr. Biden has called on Congress to raise the nation’ s debt limit, while Mr. McCarthy, California Republican, is demanding massive spending…
The Bipartisan Working Group on Paid Family Leave invited members from numerous insurance companies to discuss the role of private industries as it relates to paid family leave policies.
WASHINGTON— Minority Leader Mitch McConnell returned to the Senate on Monday weeks after suffering a concussion and fractured rib in a fall, jumping back into the fray by accusing President Joe Biden of taking an "extreme position" over a coming debt ceiling deadline. But the jokes stopped there, with McConnell going right after the president hours after…
The Biden administration said the justices should block the order from Texas District Judge Matthew J. Kacsmaryk because it undermines science and is creating chaos, noting a separate district court in Washington that approved the FDA’ s regulation of mifepristone. Danco says it cannot lawfully distribute its drug after the 5th U.S. Circuit Court of Appeals…
U.S. applications for jobless benefits rose to their highest level in more than a year, but remain at relatively low levels despite efforts by the Federal Reserve to cool the economy and job market in its battle against inflation. Jobless claims in the U.S. for the week ending April 8 rose by 11,000 to 239,000 from the previous week, the Labor Department said…
After Wednesday's news that inflation eased in March, many economists and investors say the Federal Reserve will raise interest rates one more time next month and then stop. "With major equity indexes holding up, consumer confidence higher in March, solid payroll growth, and a low unemployment rate, the Fed will probably raise the federal funds target another…
Federal Reserve Chairman Jerome Powell faces a tough road fending off politicians who like easy money, maintaining stability in the banking system and lowering inflation to 2%. Congress remains gridlocked on immigration reforms that could prioritize needed skills and an ample supply of less-skilled workers for agriculture and public-facing services.
