Regional Banks’ Bad Loans Spark Concern on Wall Street
Wall Street is concerned about the health of the nation’s regional banks, after a few of them wrote off bad loans to commercial customers in the last two weeks.
Wall Street Banks See Big Jump in Profits
Wall Street had one of its most profitable quarters ever, if the earnings from four of nation’s biggest banks that reported Tuesday are to be believed.
How the Fed’s Rate Cut Impacts Mortgage Rates
Hoping that mortgage rates will keep dropping following the Federal Reserve’s first rate cut since last year? Don’t bank on it.
AI Shakes Up Call Center Industry, But Some Tasks Better Left to Humans
Some jobs have been lost and there have been dire forecasts about the future job market for these individuals, ranging from modest single-percentage point losses, to as many as half of all call center jobs going away in the next decade.
How the Fed Losing Its Independence Could Affect Your Everyday Life
President Donald Trump’s attempt to fire a member of the Federal Reserve’s governing board has raised alarms among economists and legal experts who see it as the biggest threat to the central bank’s independence in decades.
Fed Chair Powell Faces Fresh Threats to Independence Amid Potential Rate Cuts
Now that Federal Reserve Chair Jerome Powell has signaled that the central bank could soon cut its key interest rate, he faces a new challenge: how to do it without seeming to cave to the White House’s demands.
Thinking About a Heat Pump? What to Know Before Choosing
Federal incentives for home energy improvements are running out at the end of the year, so it’s decision time for anyone who has been thinking about a heat pump.
Inflation or Jobs: Federal Reserve Divided Over Competing Concerns
One major question will be front and center for Federal Reserve policymakers as they prepare for an annual conference in Jackson, Wyoming next week and a crucial policy meeting in September: Which is a bigger problem for the economy right now, stubborn inflation or slower hiring?
Trump Opens Door to 401k Investments in Real Estate, Crypto
An executive order signed Thursday by President Donald Trump could give real estate projects, private equity and cryptocurrency firms long-sought access to a pool of funds worth trillions.
CT Could Lose WBNBA Team in $325M Deal
A group led by Celtics minority owner Steve Pagliuca has reached a deal to buy the Connecticut Sun for a record $325 million and move the team to Boston, according to a person familiar with the sale.
OpenAI Exec Warns of AI Voice Fraud Crisis in Banking
The financial industry faces a “significant impending fraud crisis” because of the technology’s ability to bypass security checks and move money, Sam Altman said.
More Americans Shift Money from Savings to Investment Accounts, Study Says
New research identifies a trend that helps to explain the resilience of the U.S. economy after a bout of high inflation and recent uncertainty due to tariffs.
Employees Say Consumer Watchdog Now Toothless
CFPB employees say they have been forbidden from doing any work by directive from the White House. Some bankers had accused the agency of overreach.
The Tariff-Driven Inflation that Economists Feared Begins to Emerge
Inflation rose last month to its highest level since February as President Donald Trump’s sweeping tariffs push up the cost of everything from groceries and clothes to furniture and appliances.
JPMorgan Posts Strong Second Quarter Amid Tariff Warning
CEO Jamie Dimon noted that plenty of risks to the U.S. economy remain, including trade uncertainty, geopolitical conflicts and federal government deficits.
As Trump Ramps Up Attacks, Fed Chair Refuses to Change Course
Federal Reserve Chair Jerome Powell on Tuesday stuck to his position that the central bank will keep its key rate on hold while it waits to see how President Donald Trump’s tariffs effect the economy, despite the steady stream of criticism from the White House, which wants lower borrowing costs.
Gloomy Americans Cut Back on Spending as Inflation Ticks Higher
A key inflation gauge moved higher in May in the latest sign that prices remain stubbornly elevated while Americans also cut back on their spending last month.
Fannie, Freddie Ordered to Consider Crypto as Asset When Underwriting Mortgages
The head of the federal government agency that oversees Fannie Mae and Freddie Mac wants the mortgage giants to consider accepting a homebuyer’s cryptocurrency holdings in their criteria for buying mortgages from banks.
Americans Sour on U.S. Economy – and Tariff Anxiety Remains Top Culprit
Americans’ view of the U.S. economy worsened in June, resuming a downward slide that had dragged consumer confidence to its lowest level since the COVID-19 pandemic five years ago.
Fed Lifts Restrictions on Wells Fargo’s Growth Seven Years After Fake-Accounts Scandal
The bank operates around two dozen branches in Connecticut, and has $8.17 billion worth of in-state deposits.
