Financial related news.
WASHINGTON — The Federal Reserve will need to continue lifting its short-term interest rate to a level that restricts economic growth and keep it there for an extended period, a top Fed official said. In her remarks last week to a banking industry conference, Fed Vice Chair Lael Brainard echoed similarly tough comments about inflation [...]
NEW YORK (AP) — Like many Americans, Karla Maldonado has been cutting back her spending to spare her wallet from rising costs: She is eating out less and attending fewer social events to curb the impact of high gas prices, but the 26-year-old social worker of Portland, Ore., hasn't skimped on her eye makeup — [...]
NEW YORK — Welcome to the worst month of the year for Wall Street. Since 1950, September has brought an average loss of 0.5 percent for the S&P 500. That's 10 times worse than the next-worst month, February. September is also the only month of the year over that span to turn in a loss [...]
JEFFERSON CITY, Mo. (AP) — Stoked by the largest surplus in state history, Missouri’s Republican-led Legislature devised a $500 million plan to send one-time tax refunds to millions of households. In a shock to some, GOP Gov. Mike Parson vetoed it. Parson’s objection: He wanted a bigger, longer-lasting tax cut. “Now is the time for [...]
The Ohio Department of Commerce last week announced the launching of a statewide initiative designed to train Ohio’s financial advisers and connect the general public with critical information about the economic impact of opioid addiction on families. Recovery Within Reach is an initiative operated by the Department of Commerce’s Division of Securities through which individuals [...]
WASHINGTON — Responding to an increasing number of threats born of conspiracy theories that agents were going to aggressively target middle income taxpayers, the Internal Revenue Service announced this week that it was conducting a comprehensive review of safety at its facilities. The climate, health care and tax legislation signed into law by President Joe [...]
NEW YORK — The CEO of Bank of America said the recent debate over whether the U.S. economy is technically in a recession or not is missing the point. What matters is that current economic conditions are negatively impacting those who are most vulnerable. "Recession is a word. Whether we are in a recession or [...]
When Kristin Martin found out her husband was being transferred to Naval Base San Diego, securing housing for their family of five quickly took over her life. On-base housing wasn't an option — the waitlist for a four-bedroom home in the neighborhoods they qualified for was 14 to 16 months. Neither were the military-only hotels [...]
WASHINGTON — Students who used federal loans to attend ITT Technical Institute as far back as 2005 will automatically get that debt canceled after authorities found "widespread and pervasive misrepresentations" at the defunct for-profit college chain, the Biden administration announced this week. The action will cancel $3.9 billion in federal student debt for 208,000 borrowers, [...]
BEIJING — Three state-owned Chinese corporate giants announced plans last week to remove their shares from the New York Stock Exchange, adding to a growing financial separation between the biggest global economies in the midst of a dispute over scrutiny of company audits. PetroChina Ltd., China Life Insurance Ltd. and China Petroleum & Chemical Co. [...]