Financial related news.
NEW YORK (AP) — The cost to overdraw a bank account could drop to as little as $3 under a proposal announced by the White House, the latest effort by the Biden administration to combat fees it says pose an unnecessary burden on American consumers, particularly those living paycheck to paycheck. The change could potentially [...]
WASHINGTON (AP) — A top Federal Reserve official earlier this week said that he is increasingly confident that inflation will continue falling this year back to the Fed's 2 percent target level after two years of accelerating price spikes that hurt millions of American households’ finances. The official, Christopher Waller, a member of the Fed's [...]
NEW YORK (AP) — The biggest banks in the country posted strong profits last year, helped by higher interest rates and a strong economy, despite having to deal with the lingering industry costs of last year’s banking crisis that caused the collapse of Silicon Valley Bank and Signature Bank. All of the banks had one-time [...]
WASHINGTON (AP) — Higher energy and housing prices boosted overall inflation in December, a sign that the Federal Reserve’s drive to slow inflation to its 2 percent target will likely remain a bumpy one. Last week’s report from the Labor Department showed that overall prices rose 0.3 percent from November and 3.4 percent from 12 [...]
NEW YORK — The Securities and Exchange Commission reluctantly approved the first exchange-traded funds that hold bitcoin last week, saying it is still deeply skeptical about cryptocurrencies and that its decision did not mean it approves or endorses bitcoin. The SEC said it gave the green light to 11 exchange-traded funds for bitcoin even though [...]
NEW YORK — The Securities and Exchange Commission this week said that a post sent from the agency’s account on the social platform X announcing the approval of a long-awaited bitcoin exchange-traded fund was “unauthorized,” and that the agency’s account was hacked. The price of bitcoin briefly spiked more than $1,000 after the post on [...]
WASHINGTON — Hobbled by high interest rates, persistent inflation, slumping trade and a diminished China, the global economy will slow for a third consecutive year in 2024. That is the picture sketched by the World Bank, which forecast this week that the world economy will expand just 2.4 percent this year. That would be down [...]
WASHINGTON (AP) — The Federal Reserve’s policymakers concluded last month that inflationary pressures were easing and that the job market was cooling. In response, the officials chose to leave their key interest rate unchanged for the third straight time and signaled that they expected to cut rates three times in 2024. According to the minutes [...]
NEW YORK (AP) — A new version of the federal student aid application known as the FAFSA is available for the 2024-25 school year, but only on a limited basis as the U.S. Department of Education works on a redesign meant to make it easier to apply. That means the Free Application for Federal Student [...]
JEFFERSON CITY, Mo. (AP) — Income, sales, property and gas taxes: Almost every state cut at least one such broad-based tax as budget surpluses soared over the past three years. Some states made permanent tax reductions. Others passed one-time rebates or temporary suspensions. One way or another, whether red or blue, all states save Alaska [...]