The FDIC, Treasury Department, and Federal Reserve are working together to ensure depositors’ access to funds. The Federal Deposit Insurance Corporation has taken over the Silicon Valley Bank…
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Housing Affordability at Historic Low
Mortgage rates reach 7 percent – housing prices could drop 20 percent. An online real estate marketplace recently reported that barely one in five U.S. households could afford…
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Treasury Department Developing Digital Dollar Technology
Legislators are looking at official cryptocurrency. The Treasury Department’s Under Secretary for Domestic Finance, Nellie Liang, said the administration is developing technology that would help create a central bank…
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Fed Rate Hikes Could Come Quicker
Chairman Powell cites an unexpectedly strong economy. The Federal Reserve may speed up interest rate hikes more than expected in their endeavors to combat inflation, Federal Reserve Chairman…
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Another January Inflation Marker Higher Than Expected
President says there is more work to do. The Federal Reserve’s preferred method of measuring inflation, the Personal Consumption Expenditures Price Index (PCE), rose to an annualized 5.4 percent…
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Nation’s Household Debt at $16.9 Trillion
Greatest increase in two decades hits record. A new report from the Federal Reserve reveals that U.S. household debt has risen to a record $16.9 trillion in the…
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January Inflation Higher Than Expected
Labor Department reports inflation now at a 6.5 percent annual rate. The U.S. Department of Labor released its January consumer price index Tuesday which reflected a half percentage…
Read MoreFed Chair Says There is a “Long Way to Go” on Inflation
He also calls America’s debt unsustainable. Federal Reserve Chairman Jerome Powell said there is “a long way to go” before economic stability is achieved in the U.S. He…
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Labor Department Reports Higher Job Gains than Expected
The leisure and hospitality industries experience the greatest gains in January. The latest Labor Department jobs report shows the U.S. added 517,000 jobs in January, outstripping the forecast…
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Over 100K Jobs Cut in January
The report says, the worst January since 2009. Tech companies led the nation in job reductions in January, with around 40 percent of over 103,000 jobs that were…
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