Financial related news.
NEW YORK — Meme stocks are shaking Wall Street once again. That shouldn't be much of a surprise. Ever since bands of smaller-pocketed and novice investors began taking stock prices of downtrodden companies to breathtaking heights three years ago, the potential for more flareups has been obvious. Some things are different this time. The biggest [...]
WASHINGTON — The interest rate hikes of the past two years will likely take longer than previously expected to bring down inflation, several Federal Reserve officials have said in recent comments, suggesting there may be few, if any, rate cuts this year. A concern expressed by both Fed policymakers and some economists is that higher [...]
NEW YORK — Cracks are showing in one of the main pillars keeping the economy out of a recession: spending by households. Consumer goods giants from PepsiCo to Kraft Heinz have described recently how the combination of high inflation and higher interest rates is hurting their lower-income customers. It’s the culmination of everything getting more [...]
WASHINGTON (AP) — The Federal Reserve last week said inflation has remained stubbornly high in recent months and it doesn't plan to cut interest rates until it has "greater confidence" that price increases are slowing sustainably to its 2 percent target. The Fed issued its decision in a statement after its latest meeting, at which [...]
WASHINGTON (AP) — The last thing standing between Ashnaelle Bijoux and her college dream is the FAFSA form — a financial aid application that's supposed to help students go to college, but is blocking her instead. She has tried to submit it over and over. Every time, it fails to go through. "I feel overwhelmed [...]
LOS ANGELES (AP) — The Biden administration's move to reclassify marijuana as a less dangerous but still controlled drug was hailed by some as a step in reshaping national policy, but it might do little to ease a longstanding problem in the cannabis industry — a lack of loans, checking accounts and banking services. "As [...]
WASHINGTON (AP) — Since retiring two years ago, Joan Harris has upped her travel game. Once or twice a year, she visits her two adult children in different states. She's planning multiple other trips, including to a science fiction convention in Scotland and a Disney cruise soon after that, along with a trip next year [...]
WASHINGTON — A measure of inflation closely tracked by the Federal Reserve remained uncomfortably high in March, likely reinforcing the Fed's reluctance to cut interest rates anytime soon and underscoring a burden for President Joe Biden's re-election bid. The report from the government showed that prices rose 0.3 percent from February to March, the same [...]
WASHINGTON (AP) — The nation's economy slowed last quarter to a 1.6 percent annual pace in the face of high interest rates, according to a new government report. Last week’s report from the Commerce Department said the gross domestic product — the economy's total output of goods and services — decelerated in the January-March quarter [...]
NEW YORK (AP) — Several factors, including the increased use of technology in vehicles, are being blamed for the increase in automobile insurance rates. Auto insurance rates rose 2.6 percent in March and are up 22 percent from a year ago. Premium costs have been marching steadily higher since 2022, even as inflation at the [...]