The latest from Washington, D.C., impacting the insurance and financial services industries.
Saying that it wants to “put the health back in our health care system,” the National Association of Benefits and Insurance Professionals announced its American Health Consumer Bill of Rights during the 2024 NABIP Capitol Conference on Monday.
As inflation gathered force in 2021 and 2022, the Federal Reserve notoriously waited too long to raise interest rates, allowing consumer prices to continue to climb sharply, Fed officials now acknowledge. "The longer they wait, the greater the risk that something goes off the rails," says Mark Zandi, chief economist of Moody's Analytics. But Fed Chair Jerome…
Members of the National Association of Benefits and Insurance Professionals are asking Congress to preserve and strengthen employer-sponsored health insurance, address the cost of health care, and keep Medicare beneficiaries’ access to advisors and brokers during their annual Capitol Conference.
As the fight over immigration reached peak chaos in the U.S. Senate earlier this month, the Congressional Budget Office held a press conference nearby. The growing deficit is mainly the result of high interest rates, more people receiving Medicare and Social Security benefits, and rising healthcare costs. One key reason is that they expect rising immigration…
Durkin brings the latest business headlines from the floor of the New York Stock Exchange as markets close for trading Wednesday, February 21. Durkin- reporting from the New York Stock Exchange. Investors are reacting to minutes from the Federal Reserve's January meeting, which indicated that the Fed will hold off on cutting interest rates until it is…
Butch Parrish, a Swainsboro Republican, is the main sponsor of a new health care bill. A long-awaited health care proposal from House leaders would ease health care business regulations in some cases, but the measure is just as notable for what it does not do: expand Medicaid. It also raises the cap on the state's rural hospital tax credit program to $100 million a…
Consumer inflation in the United States cooled last month yet remained elevated in the latest sign that the pandemic-fueled price surge is only gradually and fitfully coming under control. Tuesday's report from the Labor Department showed that the consumer price index rose 0.3% from December to January, up from a 0.2% increase the previous month.
Twice this week, government reports did not show inflation falling as many had expected. And rates will keep rising until the Federal Reserve starts cutting interest rates. Interest rates fell rapidly after the Fed's November meeting when Chairman Jerome Powell all but said a rate cut was a certainty.
Medicare beneficiaries who are having trouble paying their out-of-pocket prescription drug costs would have the option of spreading those costs throughout the year instead of paying all at once, according to guidance issued by the Centers for Medicare and Medicaid Services.
The presidential election couldn't be coming at a worse time for the Federal Reserve. If it cuts rates, former president Donald Trump and his supporters will accuse Chair Jerome H. Powell of goosing the economy for President Biden. If it doesn't cut rates, Democrats will say it's holding back the economy and helping Trump.
Some Federal Reserve officials, who were surprised by inflation's rapid descent in 2023, seem to be setting a new bar for interest-rate cuts: a broader pullback in price pressures. Last week, both Richmond Fed President Thomas Barkin and Boston Fed President Susan Collins indicated they not only want the decline in inflation to continue- like many other…
WASHINGTON- From Wall Street traders to car dealers to home buyers, Americans are eager for the Federal Reserve to start cutting interest rates and lightening the heavy burden on borrowers. The Fed is widely expected to do so this year- probably several times. "History tells many stories of inflation head-fakes," said Tom Barkin, president of the Federal Reserve…
Legislation introduced today would expand retirement savings opportunities for millions of workers by requiring businesses with 10 or more employees to offer a workplace retirement plan.
A pair of Republican senators say a proposed rule to better regulate the use of artificial intelligence in financial services will end up stifling innovation instead.
Federal Reserve Chairman Jerome H. Powell warned that the United States government is on an "unsustainable fiscal path" as the national debt has ballooned to record levels. "In the long run, the U.S. is on an unsustainable fiscal path," Mr. Powell said in a "60 Minutes" interview on CBS. Mr. Powell also said the country is "making good progress" with lowering inflation rates,…
InsideSources reviewed ticket prices mid-afternoon on Wednesday, Jan. 31, and found the lowest face value Super Bowl tickets from Ticketmaster cost $7,495— before the added "convenience" fees. "To the average fan, the cost of going to the Super Bowl looks eye-watering," said John Breyault, vice president of Public Policy, Telecommunications and Fraud for the…
"Let's be honest: This is a good economy." So declared Jerome Powell, the chair of the Federal Reserve, in his news conference Wednesday after the Fed's latest policy meeting. He's right, even if the public isn't fully convinced.
Both Democrats and Republicans in Congress showed strong support for the Child Tax Credit and some business tax breaks as the House voted to send a bipartisan tax package to the Senate on Wednesday.
—The Federal Reserve will likely move closer Wednesday to cutting its key interest rate after nearly two years of hikes that were intended to fight the worst inflation in decades. The Fed is assessing the economy at a time when the intensifying presidential race is pivoting in no small part on voters' perceptions of President Joe Biden's economic stewardship.
A bipartisan tax package had been expected to move through the House of Representatives this week, but some Republican congressmen are threatening to derail the measure over their concerns about the bill.
