Author: Press Room
San Francisco Federal Reserve President Mary Daly said the central bank will use all its tools to keep country’s financial system “safe and sound,” but she did not offer any fresh details on Silicon Valley Bank in her first public remarks since its failure. SVB was located in the San Francisco Fed’s region and the bank was responsible for regulatory oversight. Daly and the San Francisco Fed have been criticized for not spotting the potential problems earlier. The… Read the full article here
© Reuters. FILE PHOTO: A person enters a United States Postal Service (USPS) Post Office in Manhattan, New York City, U.S., May 9, 2022. REUTERS/Andrew Kelly By David Shepardson WASHINGTON (Reuters) – The United States Postal Service (USPS) on Monday said it was seeking approval to hike the price of first-class mail stamps to 66 cents from 63 cents. USPS won approval to hike stamp prices to 63 cents from 60 cents in January. The new hike – which the USPS says is needed to offset the rise in inflation – would take effect July 9 if approved by the…
By Nichola Groom (Reuters) – U.S. officials on Tuesday gave final approval for a company owned by billionaire Philip Anschutz to begin building a massive transmission line that will deliver wind energy from blustery Wyoming to power-hungry California. The “notice to proceed” from the U.S. Bureau of Land Management allows TransWest Express LLC to break ground on its $3 billion line after more than 15 years of development. About two-thirds of the project will be on federal lands. In a statement, the bureau said its approval of the 732-mile TransWest Express line was “a significant milestone in the Biden-Harris administration’s…
By Howard Schneider WASHINGTON (Reuters) – Interest rates eventually should fall back to levels seen before the outbreak of COVID-19, with advanced economies again within sight of the “zero lower bound” and developing countries seeing rates in steady decline, the International Monetary Fund said in a new analysis of whether the “natural” rate of interest was changed by the pandemic. Though rates are high now as major central banks battle inflation, “when inflation is brought back under control, advanced economies’ central banks are likely to ease monetary policy and bring real interest rates back toward pre-pandemic levels,” IMF analysts said…
Key takeaways Headline inflation dropped to 5% in March, down from 6% in February and the 9.1% high of June 2022 Core CPI accelerated slightly to 5.6%, which was bang on target with what analysts predicted When considering jobs, unemployment and PCE data, the Fed’s aggressive rate increases seem to be paying off The big economic news of today is that headline inflation has dropped to 5%, the lowest figure since 2021, which has pushed up the stock market and driven Treasury yields down. When considered against jobs, unemployment and PCE data, the overall picture looks brighter than it has…
Shares of real estate investment trust (REIT) American Tower (AMT) were last seen 0.9% higher at $212.29, and pacing for their sixth-straight daily win. The equity has added nearly 15.5% over the last six months, and now sports a fractional year-to-date lead. However, traders shouldn’t get excited just yet, as AMT is now trading near a trendline with historically bearish implications. Specifically, American Tower stock is within one standard deviation of its 160-day moving average. According to data from Schaeffer’s Senior Quantitative Analyst Rocky White, the security saw six similar signals over the last three years, and was lower one…
The deadline for millions of Americans to file their tax return is April 18. And for the country’s 40 million student loan borrowers, navigating repayment, student loan forgiveness, and taxes is more confusing than ever. But for many people, there are strategies that can reduce your student loan repayment obligation, your tax burden, or both. Here’s an overview. Reduce Adjusted Gross Income To Lower Student Loan Payments And Tax Bill Millions of federal student loan borrowers rely on income-driven repayment plans. IDR plans use a formula based on a borrower’s family size and income — typically, their Adjusted Gross Income…
Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. Based on data compiled by Credible, mortgage rates for home purchases remained unchanged across all key terms since yesterday. Rates last updated on April 12, 2023. These rates are based on the assumptions shown here. Actual rates may vary. Credible, a personal finance marketplace, has 5,000 Trustpilot reviews with an average…
While the latest inflation report might have shown welcome signs of inflation continuing to cool, one supermarket and oil CEO told Americans to prepare for the exact opposite. “Prices are going up. Gasoline is going up. Everything is going up. So I’m not a historian, I am a person that deals with it every day,” Red Apple Group and United Refining Company Chairman and CEO John Catsimatidis said on a “Mornings with Maria” panel Wednesday. “And we have to worry about: what [is the Fed] going to do?”The Labor Department said Wednesday that the consumer price index, a broad measure of…
Warren Buffett said he was “confounded” by the opportunity to buy into five Japanese trading houses two years ago.”I was confounded by the fact that we could buy into these companies,” Buffett told CNBC’s Becky Quick on “Squawk Box” in an interview from Tokyo on Wednesday. They had in effect “an earnings yield maybe 14% or something like that, but dividends would grow.”The Berkshire Hathaway chairman and CEO revealed this week that he had raised his stakes in each of the five major Japanese firms to 7.4%, and added that he may consider further investments. Buffett’s trip to Japan is…
