Financial related news.
PORTLAND, Maine (AP) — With inflation raging and state coffers flush with cash, governors and lawmakers across the country are considering a relatively simple solution to help ease the pain people are feeling at the gas pump and grocery store — sending money. At least a dozen states have proposed giving rebate checks of several [...]
WASHINGTON — Federal Reserve Chair Jerome Powell said new forms of digital money such as cryptocurrencies and stablecoins present risks to the U.S. financial system and will require new rules to protect consumers. Powell, speaking last week on a panel organized by the Bank for International Settlements, a global organization of central bankers, also said [...]
WASHINGTON — Chair Jerome Powell said this week that the Federal Reserve would raise its benchmark short-term interest rate faster than expected, and high enough to restrain growth and hiring, if it decides this would be necessary to slow rampaging inflation. Powell's message was more hawkish than his comments were after last week's Fed meeting, [...]
Elizabeth Vermillera, a retired pharmaceutical technician, spends her days handing out donated clothes and food to people in Baltimore. Since 1997, she has lived with a Shih Tzu and a fox terrier in a rowhouse that her dad gave her. In 2021, the city notified Vermillera that she might lose her home due to unpaid [...]
WASHINGTON — The IRS said last week it plans to hire 10,000 new workers to help reduce a massive backlog that the government says will make this tax season the most challenging in history. The agency released a plan to work down the tens of millions of filings that includes speeding up the traditionally slow [...]
Late in 2013, with bitcoin prices in the middle of a steep dip, a post appeared in an online forum featuring a misspelling that would become legendary: "I AM HODLING." The mangling of the word "hold" captured a kind of irreverent blind faith of some early cryptocurrency adopters, and it has since become a part [...]
DALLAS — Gasoline prices have smashed a 2008 record and are likely to head even higher, further fueling inflation and hitting consumers and businesses that are still coming to grips with the pandemic. The national average topped $4.17 a gallon on Tuesday, according to auto club AAA, and several states on each coast could soon [...]
SILVER SPRING, Md. — Bitcoin prices have surged as investors again appear to view the volatile cryptocurrency as a safe haven for their money and Russians and Ukrainians seek alternatives to their country's financial institutions. After initially falling to around $34,000 following Russia's advance into Ukraine, bitcoin pushed about 10 percent higher on last week [...]
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell made it clear Wednesday that the Fed will begin raising interest rates this month in a high-stakes effort to restrain surging inflation. In prepared testimony he will deliver to a congressional committee, Powell cautioned that the economic consequences of Russia's invasion of Ukraine are "highly uncertain." He [...]
WASHINGTON (AP) — More than 80 percent of the billions of dollars in federal rental assistance aimed at keeping families in their homes during the pandemic went to low-income tenants, the Treasury Department said Thursday. It also concluded that the largest percentage of tenants receiving pandemic aid were black followed by households. In the fourth [...]