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…
The latest from Washington, D.C., impacting the insurance and financial services industries.
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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.
Senate bill would block SEC rule to regulate technology in financial services
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.
Tax bill advanced in rare bipartisan House vote
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.
Federal Reserve is likely to show little urgency to cut interest rates despite market's anticipation
—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.
Future of bipartisan tax bill in doubt
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.
2024 is a big political year for the country. Without question, one institution that will be front and center in this situation will be the Federal Reserve, usually simply referred to as the Fed. The Fed also serves as a backstop for troubled banks so depositors will be secure.
he legislation also provides additional options for businesses to earn the paid leave tax credit, such as paying for PFML insurance products, and it requires greater outreach efforts to raise awareness about the credit.
2024 will be a historic election year around the world
Elections will take place in 50 countries this year as 4 billion people choose new leaders.
In 2010, at the signing of the Affordable Care Act, aka Obamacare, Joe Biden, the vice president at the time, was caught on a hot mic telling President Barack Obama that the bill was a "big deal." Inflation, especially using the measure preferred by the Federal Reserve, has fallen close to the Fed's target. Biden deserves some political reward for this good news, given…
Whisper it quietly so as not to offend those who insisted the U.S. would be deep in an inflation-mired recession by now. But the Federal Reserve has likely delivered even more than the so-called soft landing its critics said was impossible. Fed Chair Jerome Powell is trying to achieve a soft landing for the U.S. economy.TheStreet/Shutterstock.
The inflationary spiral that drove prices up during the first years of the Biden administration has ended. The bad news is we're still paying more for too many things even as real wages underwent a prolonged decline. To help people buy more with less, Joe Biden appears to have embraced price controls.
The debate is heating up as European Central Bank policymakers meet this week, with many observers now expecting its benchmark lending rates to start coming down by this summer. Governors at the US Federal Reserve are also weighing cuts for later this year, fanning hopes that the price surges seen in the wake of Covid-19 lockdowns and Russia's war on Ukraine…
From Medicare to flood coverage – What the 2024 elections could mean for insurance
Insurance issues are on the line as federal and state lawmakers are on the ballot in 2024.
Trade policy with China sits at the center. China is no longer just a trading partner with whom we have differences. We're talking about electric vehicles, of which China commands almost 60% of the world market.
The Federal Reserve's anti-inflation interest-rate hikes helped, too. A flood of federal spending on infrastructure, microchips and electrification boosted North Carolina's construction sector, and the nationwide housing shortage hasn't hurt either. Ben Harris and Aaron Sojourner of the Brookings Institution designed a model to study this perception…
