Financial related news.
WASHINGTON (AP) — The warnings have been sounded for more than a year: A recession is going to hit the United States. If not this quarter, then by next quarter. Or the quarter after that. Or maybe next year. So, is a recession still in sight? The latest signs suggest maybe not. Despite much higher [...]
Nathan Hill started receiving $12.75 an hour from a state Medicaid program to help care for his severely disabled son during the pandemic, money he said allowed his family to stop using food stamps. The program was designed to provide a continuation of care and ease a home-health worker shortage that grew worse after COVID-19 [...]
LOS ANGELES (AP) — The average long-term mortgage rate fell last week for the third time in as many weeks, a welcome boost for homebuyers facing a housing market that’s been held back by a tight inventory of homes for sale. Mortgage buyer Freddie Mac said last week that the average rate on the benchmark [...]
Members of the Ways and Means Committee in the Ohio House of Representatives are mulling a proposal that would eliminate duplicate taxes on income earned outside of Ohio when a resident elects to file as a pass-through entity in another state. Lawmakers last week heard testimony from Centerville Rep. Tom Young, one of the Republicans [...]
PARIS (AP) — U.S. Treasury Secretary Janet Yellen said last week that it's "critical" the United States and China maintain a relationship so they can "work together" on global challenges, coming just after President Joe Biden's remarks calling Chinese leader Xi Jinping a "dictator" drew condemnation from Beijing. Speaking at a news conference in Paris, [...]
WASHINGTON (AP) — With inflation still excessive, most Federal Reserve officials expect to raise interest rates further this year, Chair Jerome Powell said in prepared testimony schedule to be delivered to a House committee this week. "Inflation pressures continue to run high, and the process of getting inflation back down to 2 percent has a [...]
WASHINGTON (AP) — The IRS has processed tens of millions of tax returns faster this year compared with past years while getting through to customer service on the phone is slowly improving, according to a report to Congress released this week. There is a huge need to update the agency's information technology services, however, and [...]
LOS ANGELES (AP) — For the first time in more than a decade, the average homeowner with a mortgage has less home equity than they did a year earlier. Among the roughly 63 percent of homes with a mortgage, average homeowner equity per borrower was $274,070 in the first quarter, down 1.9 percent from the [...]
WASHINGTON (AP) — New York City will implement a minimum pay rate for food delivery workers on apps such as Uber Eats and DoorDash — marking a first for the U.S., officials said. The new rule could nearly triple average earnings for app-based delivery workers in the coming years. New York's more than 60,000 delivery [...]
WASHINGTON (AP) — Consumer prices cooled last month, rising just 0.1 percent from April to May and extending the past year's steady easing of inflation. At the same time, some measures of underlying price pressures remained high. Measured year over year, inflation slowed to just 4 percent in May — the lowest 12-month figure in [...]