Financial related news.
Columbus-based Nationwide forecast a brief recession for the nation’s economy sometime this year in a new survey of retirement investors. The company’s Chief of Investment Research Mark Hackett said it was a reasonable expectation that economic and inflationary pressures would result in a recession within the year, but pessimism is unwarranted. “With the echoes of [...]
WASHINGTON (AP) — Americans cut their spending at retail stores in March for the second straight month, a sign that consumers are becoming more cautious after a burst of spending in January. Retail sales dropped 1 percent in March from February, a sharper decline than the 0.2 percent fall in the previous month. Sales jumped [...]
DENVER (AP) — Cindy Powers was driven into bankruptcy by 19 life-saving abdominal operations. Medical debt started stacking up for Lindsey Vance after she crashed her skateboard and had to get nine stitches in her chin. For Misty Castaneda, open heart surgery for a disease she'd had since birth saddled her with $200,000 in bills. [...]
NEW YORK (AP) — Profits are falling for companies, and the only question is how much worse they will get. Big companies are lining up to report how much profit they made during the first three months of the year, with the reporting season kicking off in earnest on last week. The widespread expectation is [...]
WASHINGTON (AP) — Turmoil in the banking system after two major banks collapsed led many Federal Reserve officials to envision fewer rate increases this year out of concern that banks will reduce their lending and weaken the economy. The heightened uncertainty surrounding the banking sector also helped Fed officials coalesce around their decision to raise [...]
WASHINGTON (AP) — Consumer inflation eased in March, with less expensive gas and food providing some relief to households that have struggled under the weight of surging prices. Prices, however, are still rising fast enough to keep the Federal Reserve on track to raise interest rates at least once more, beginning in May. The government [...]
Some people rent in retirement because they don't have much choice; they can't afford to own homes. Yet financial planners say renting can make more sense than owning in some circumstances, even for retirees who can afford the costs of homeownership. Renting offers flexibility as well as freedom from all the chores and expenses of [...]
WASHINGTON — The outlook for the world economy this year has dimmed in the face of chronically high inflation, rising interest rates and uncertainties resulting from the collapse of two big American banks. That's the view of the International Monetary Fund, which this week downgraded its outlook for global economic growth. The IMF now envisions [...]
WASHINGTON — The IRS released details last week on how it plans to use an infusion of $80 billion for improved operations, pledging to invest in new technology, hire more customer service representatives and expand its ability to audit high-wealth taxpayers. While some Republicans have suggested without evidence that the money from the Democrats' landmark [...]
WASHINGTON — Over the past year, the world economy has withstood the combined shocks of high interest rates and a war in Ukraine better than just about anyone expected. The International Monetary Fund, among other agencies, has upgraded its economic forecast for 2022. Europe has defied fears that an energy shock from the cutoff of [...]