U.S. property management company Greystar swindled renters across the country out of hundreds of millions using deceptive advertising and hidden fees, according to a lawsuit filed Thursday by the U.S. Federal Trade Commission and Colorado.
JPMorgan’s net income soared 50 percent to more than $14 billion in the fourth quarter as the bank’s profit and revenue easily beat Wall Street forecasts, and other major banks reported banner earnings for the year.
The average long-term U.S. mortgage rate ticked up again this week, starting the first full week of 2025 off at its highest level since July.
Federal Reserve officials at their meeting Dec. 17-18 expected to dial back the pace of interest rate cuts this year in the face of persistently elevated inflation and the threat of widespread tariffs and other potential policy changes.
Massachusetts Attorney General Andrea Campbell and nine other state AGs joined the U.S. Justice Department in suing several large landlords for allegedly coordinating to keep Americans’ rents high.
The Federal Reserve’s top financial regulator said Monday that he would resign next month, avoiding a potential confrontation with the incoming Trump administration and Republicans in the Senate.
The Container Store has filed for bankruptcy protection as the storage and organizational goods retailer with roots dating back to the 1970s grapples with mounting losses and cash flow shortages.
As expected, the central bank made a quarter-point cut in its benchmark interest rate Wednesday, but signaled fewer cuts in 2025 than previously predicted.
Americans hoping for lower borrowing costs for homes and investments may be disappointed after this week’s Federal Reserve meeting.
President Joe Biden had called the fees, which can be as high as $35, “exploitative,” while the banking industry has lobbied extensively to keep the existing fee structures in place.
A top Federal Reserve official said Monday that he is leaning toward supporting an interest rate cut when the Fed meets in two weeks but that evidence of persistent inflation before then could cause him to change that view.
Chair Jerome Powell said Thursday that the Federal Reserve will likely cut its key interest rate slowly and deliberately in the coming months, in part because inflation has shown signs of persistence and the Fed’s officials want to see where it heads next.
The president-elect campaigned on a promise to make homeownership more affordable by lowering mortgage rates, but his policies could do the opposite, some analysts say.
Wall Street is already making big bets on what take two for a White House led by Donald Trump will mean for the economy.
Between mixed economic signals and president-elect Donald Trump’s statements that he wants greater control over interest rate policy, it’s up in the air what happens next.
The president-elect outlined a wide-ranging agenda on the campaign trail that blends traditional conservative approaches to taxes, regulation and cultural issues with a more populist bent on trade.
No one knows how Tuesday’s presidential election will turn out, but the Federal Reserve’s move two days later is much easier to predict: With inflation continuing to cool, the Fed is set to cut interest rates for a second time this year.
Mortgage rates have been climbing in recent weeks following a spate of encouraging reports on the U.S. economy, including a hotter-than-expected September jobs report and a snapshot of consumer prices.
A subway train that derailed near Boston earlier this month had entered a 10 mph zone traveling at 36 mph, according to an initial report from the National Transportation Safety Board released Wednesday.
