Financial related news.
WASHINGTON (AP) — A Federal Reserve official this week raised the possibility that the Fed could decide to cut its benchmark interest rate as early as spring if inflation keeps declining steadily. The official, Christopher Waller, a member of the Fed’s Board of Governors, cautioned that inflation is still too high and that it’s not [...]
WASHINGTON (AP) — While the scandals in the cryptocurrency industry seem to never end, Washington policymakers appear to have little interest in pushing through legislation to codify the structure of the industry. The latest shoe to drop is Binance’s multibillion dollar settlement with federal authorities and the resignation of its CEO last week. Before that [...]
NEW YORK (AP) — Consumers are expected to use "buy now, pay later" payment plans heavily this holiday season, a forecast that bodes well for retailers but that has credit analysts sounding alarm bells. The short-term loans often come with consumer-friendly interest rates and allow shoppers to make an initial payment at checkout, then pay [...]
WASHINGTON (AP) — Federal Reserve officials concluded earlier this month that inflation was steadily falling and agreed to closely monitor incoming data to ensure that the pace of price increases would continue slowing toward their 2 percent target, according to the minutes of their meeting released last week. As a result, the policymakers decided to [...]
WASHINGTON (AP) — Inflation has reached its lowest point in 2 1/2 years and the unemployment rate has stayed below 4 percent for the longest stretch since the 1960s, yet, according to a raft of polls and surveys, most Americans hold a glum view of the economy. According to a poll last month by The [...]
NEW YORK — Citigroup intentionally discriminated against Armenian Americans when they applied for credit cards, the Consumer Financial Protection Bureau said last week. The bureau said some bank employees argued internally that Armenian Americans were more likely to commit fraud and referred to applicants as "bad guys" or as affiliated with organized crime. The CFPB [...]
SAN FRANCISCO — Heidi Lange was among the first to rebuild after the deadliest wildfire in California history destroyed her home in 2018 along with much of the town of Paradise. After the fire, she got divorced, which left her with only half the money paid out by insurance — but she budgeted, planned ahead [...]
ALM SPRINGS, Calif. (AP) — The conviction of former cryptocurrency mogul Sam Bankman-Fried for stealing at least $10 billion from customers and investors is the latest black mark for the cryptocurrency industry, but in Washington, there seems to be little to no interest in pushing through regulation. When cryptocurrencies collapsed and a number of companies [...]
WASHINGTON (AP) — The World Bank earlier this week reported that oil prices could be pushed into "uncharted waters" if the violence between Israel and Hamas intensifies, which could result in increased food prices worldwide. The World Bank's Commodity Markets Outlook found that while the effects on oil prices should be limited if the conflict [...]
NEW YORK (AP) — As household expenses outpace earnings, many Americans are expressing concern about their financial futures. For most people, household debt has either risen in the last year or has not gone away. While 2 in 3 Americans say their household expenses have risen over the last year, only about 1 in 4 [...]