by The Associated Press | Jul 12, 2023
After two years of painfully high prices and over a year of steady interest rate hikes, inflation in the United States has reached its lowest point in more than two years in a sign the Fed’s rate-hike campaign is working.
by The Associated Press | Jul 11, 2023
Bank of America must pay around $150 million to customers for doubling up on some fees, withholding reward bonuses and opening accounts without customer consent.
by The Associated Press | Jul 6, 2023
Some Federal Reserve officials pushed to raise the Fed’s key interest rate by one-quarter of a percentage point at their meeting last month to intensify their fight against high inflation, though the central bank ultimately decided to forgo a rate hike.
by The Associated Press | Jul 5, 2023
The reprieve is over. Just as the American economy is struggling with high inflation and interest rates, the coming resumption of student loan payments poses yet another potential challenge.
by The Associated Press | Jun 30, 2023
An inflation index that is closely monitored by the Federal Reserve tumbled last month to its lowest level since April 2021, pulled down by lower gas prices and slower-rising food costs.
by The Associated Press | Jun 29, 2023
The nation’s 23 largest banks passed the Federal Reserve’s so-called stress tests this year, a sign that financial regulators think the nation’s banking system remains resilient despite the recent banking crisis.
by The Associated Press | Jun 29, 2023
Federal Reserve Chair Jerome Powell said Thursday that the central bank may have to tighten its oversight of the American financial system in the wake of the failure of three large U.S. banks this spring.
by The Associated Press | Jun 28, 2023
The warnings have been sounded for more than a year: A recession is going to hit the United States. If not this quarter, then by next quarter. Or the quarter after that. Or maybe next year. So is a recession still in sight?
by The Associated Press | Jun 27, 2023
The nation’s employers stepped up their hiring in May, adding a robust 339,000 jobs, well above expectations and evidence of enduring strength in an economy that the Federal Reserve is desperately trying to cool.
by The Associated Press | Jun 26, 2023
Investors and a wide range of retailers are taking a dim view of the remainder of 2023 and expect consumers to buckle under pressure from inflation.
by The Associated Press | Jun 22, 2023
With inflation in the United States still excessive, most Federal Reserve officials expect to raise interest rates further this year, Chair Jerome Powell told a House committee Wednesday.
by The Associated Press | Jun 14, 2023
The Federal Reserve kept its key interest rate unchanged Wednesday after having raised it 10 straight times to combat high inflation.
by The Associated Press | Jun 14, 2023
Top Federal Reserve officials have made clear that any such pause may be brief with another rate hike likely as soon as their next meeting in late July.
by The Associated Press | Jun 13, 2023
Check fraud is back in a big way, fueled by a rise in organized crime that is forcing small businesses and individuals to take additional safety measures or to avoid sending checks through the mail altogether.
by The Associated Press | Jun 12, 2023
Fraudsters potentially stole more than $280 billion COVID-19 relief funding; another $123 billion was wasted or misspent. Combined, the loss represents 10 percent of the $4.2 trillion the U.S. government has so far disbursed in EDIL loans, PPP loan and other COVID relief aid.
by The Associated Press | Jun 12, 2023
Industry leaders say that, with their latest actions, U.S. regulators are more clearly signaling that they seek to ensure cryptocurrency has no room in the traditional financial system.
by The Associated Press | Jun 7, 2023
When the Federal Reserve meets next week, it is widely expected to leave interest rates alone – after 10 straight meetings in which it has jacked up its key rate to fight inflation.
by The Associated Press | Jun 5, 2023
Customers of Venmo, PayPal and CashApp should not store their money with those apps for the long term because the funds might not be safe during a crisis, the Consumer Financial Protection Bureau warned Thursday.
by The Associated Press | Jun 2, 2023
The Wegmans supermarket chain is closing one of its largest and most unusual stores because it has not attracted enough business, the company said.
by The Associated Press | Jun 2, 2023
Customers of Chase’s online banking services were seeing double transactions, fees and/or payments in their accounts, with the situation not immediately being resolved as of late morning on Friday.