Americans’ concerns regarding credit conditions and their own financial situations deteriorated in May, while anxieties over inflation in the coming months dropped to the lowest point since May 2021, new data published on June 12 show. According to the Federal Reserve Bank of New York’s May survey of consumer expectations, median inflation expectations among Americans declined by 0.3…
US Household Concerns Over Credit Conditions, Finances Deteriorate as Inflation Anxieties Ease
Financial Tips for New College Grads
For new college graduates, receiving that first post-degree paycheck can be almost as exciting as getting the diploma itself. But it also presents a challenge: Given the many demands on a young person’s budget, how should those funds be managed? We asked five money experts to share their best personal finance strategies to help this…
Actor Jeremy Renner Wants Tax Credits for Film Projects in Northern Nevada, but He May Have to Wait
CARSON CITY, Nev.—Actor Jeremy Renner’s hopes to expand a measure for the film industry to northern Nevada were effectively dashed Monday when the bill’s sponsor said it’s too late to entertain in the current legislative session. A bill moving through the Nevada Legislature would provide $190 million annually in tax credits over at least 20…
Goldman Fined $7 Million by ECB Over Credit Risk Reporting
FRANKFURT—The European Central Bank (ECB) said on Monday it had fined Goldman Sachs’ European unit 6.63 million euros ($7.3 million) for underreporting the risk associated with some corporate credit, thereby flattering its balance sheet. Goldman Sachs said in a statement it had “closely cooperated with the ECB” and “taken all necessary steps” to resolve the…
New Rule to Penalize Good Credit Borrowers, Will Reward High-Risk Individuals
The Biden administration wants airlines to compensate passengers with money, food, and hotel rooms when flights get canceled or seriously delayed. But airlines are pushing back. A new mortgage rule for home buyers is in effect. Critics say the Robin Hood-like rule forces people with good credit to pay more to support people with bad…
New Mortgage Rule to Penalize Good Credit Borrowers, Will Reward High-Risk Individuals
The Biden administration wants airlines to compensate passengers with money, food, and hotel rooms when flights get canceled or seriously delayed. But airlines are pushing back. A new mortgage rule for home buyers is in effect. Critics say the Robin Hood-like rule forces people with good credit to pay more to support people with bad…
Senate Democrats Pressure Credit Agencies to Ignore Medical Debt of Borrowers
Senate Democrats pressured the heads of the three major credit ratings agencies on April 27 to disregard the debt incurred by borrowers for medical expenses. “People are busy enough with their children and their jobs and their lives,” said Sen. Sherrod Brown (D-Ohio), the chair of the Senate Committee on Banking, Housing, and Urban Affairs….
Several Landmines Ahead for US Economy
April 2, 2023
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Commentary Markets have remained relatively stable since the Federal Reserve announced a 25-basis-point hike in March, with no negative surprises jumping out of the U.S. banking sector. But the U.S. economy remains on the verge of trouble. There are landmines on several fronts that could hurt businesses and consumers. And all of this makes the…
Bank Turmoil Could Spread to Real Economy, Squeezing Credit Supply, Experts Warn
While the immediate threat of broader financial contagion seems to have abated following confidence-building emergency measures taken in the wake of the collapse of Silicon Valley Bank (SVB), experts are now warning of spillovers into the real economy in the form of a credit squeeze that could hit small businesses especially hard. Lending standards started…
Elon Musk Shocked by $100 Billion Liquidity Support for Credit Suisse Rescue Deal
Twitter CEO Elon Musk has expressed his shock that investment banking company UBS would get a $100 billion emergency credit line as part of a $2 billion deal to buy rival Credit Suisse. Taking to Twitter, Musk responded to a tweet linking to an article reporting on the deal between the two financial institutions which…
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