An independent review of the Federal Deposit Insurance Corp.’s workplace culture describes an environment that fostered “hostile, abusive, unprofessional or inappropriate conduct.”
Redfin has agreed to pay $9.25 million to settle federal lawsuits that claim U.S. homeowners were saddled with artificially inflated broker commissions when they sold their home as a result of longstanding real estate industry practices.
Steward Health Care, the operator of the third largest hospital system in Massachusetts, filed for Chapter 11 bankruptcy in Texas, seeking the legal protection to restructure its debt while leaving its hospitals open.
The nation’s employers pulled back on their hiring in April but still added a decent 175,000 jobs in a sign that persistently high interest rates may be starting to slow the robust U.S. job market.
The wealthy governor, along with one of his neighbors and a neighborhood organization, have been accused of removing 186 trees in protected wetlands – property they do not own – to get a better view of a pond.
JPMorgan Chase CEO Jamie Dimon says he’s hopeful the Federal Reserve can bring down inflation without causing a recession but wouldn’t rule out more troubling possibilities, such as stagflation.
“If higher inflation does persist,” he said, “we can maintain the current level of [interest rates] for as long as needed.”
Federal Reserve Vice Chair Philip Jefferson suggested Tuesday that the central bank’s key rate may have to remain at its peak for a while to bring down persistently elevated inflation.
JPMorgan Chase continued to warn investors Friday that it expects a “uncertain” year for markets and the global economy, citing stubbornly high inflation and ongoing geopolitical tensions.
Consumer inflation remained persistently high last month, boosted by gas, rents, auto insurance and other items, the government said Wednesday in a report that will likely give pause to the Federal Reserve as it weighs when and by how much to cut interest rates this year.
The Fed typically cuts only when the economy appears to be weakening and needs help. But with economic data looking strong – the commercial real estate sector aside – will its policymakers see a need to even cut at all?
With some investors and economists questioning whether the Federal Reserve can make good on interest rate cuts this year, the JPMorgan Chase CEO warned of the possibility of rates rising to 8 percent or higher.
America’s employers delivered another outpouring of jobs in March, adding a sizzling 303,000 workers to their payrolls and bolstering hopes that the economy can vanquish inflation without succumbing to a recession in the face of high interest rates.
Federal Reserve officials will likely reduce their benchmark interest rate later this year, Chair Jerome Powell said Wednesday, despite recent reports showing that the U.S. economy is still strong and that U.S. inflation picked up in January and February.
Federal Reserve Chair Jerome Powell on Friday reiterated a message he has sounded in recent weeks: While the Fed expects to cut interest rates this year, it won’t be ready to do so until it sees “more good inflation readings’’ and is more confident that annual price increases are falling toward its 2 percent target.
Real estate brokerage company Compass Inc. will pay $57.5 million as part of a proposed settlement to resolve lawsuits over real estate commissions, the company said in a regulatory filing Friday.
In new quarterly projections they issued, Fed officials forecast that stronger growth and stubborn inflation would persist, meaning the central bank’s benchmark interest rate will stay higher for longer.
Two weeks ago, Chair Jerome Powell suggested that the Federal Reserve was “not far” from gaining the confidence it needed that inflation was headed sustainably down. It was a tantalizing suggestion.
Across the United States, many people are eagerly anticipating the Federal Reserve’s first cut to its benchmark interest rate this year: Prospective home buyers hope for lower mortgage rates. Housing developers looking to get shovels in the ground.
At the root of this problem: America failed to build enough homes for its growing population. The shortage strikes at the heart of the American dream of homeownership – dampening President Joe Biden’s assurances that the U.S. economy is strong.
