News
Financial experts share their view of the 2026 economy
1+ hour, 53+ min ago (661+ words) Business executives and community leaders from across the region heard a message of cautious optimism during the Chester County Economic Development Council's annual Economic Outlook program. This is the 22nd year for the event, which the council offers as a resource…...
Producer prices rise a mild 0.2% in November, government says in report delayed by federal shutdown
6+ day, 21+ hour ago (162+ words) The Labor Department reported Wednesday that its producer price index " which measures inflation before it reaches consumers " rose 0.2% in November from October and 3% from a year earlier. The numbers are old. They were supposed to come out Dec. 11, but the…...
Wall Street CEOs warn Trump: Stop attacking the Fed and credit card industry
1+ week, 1+ day ago (478+ words) By KEN SWEET, AP Business Writer But now the president has proposed a one-year, 10% cap on the interest rate on credit cards, a lucrative business for many financial institutions, and his Department of Justice has launched an investigation into Federal…...
Wall Street edges back from its records as JPMorgan Chase and Delta kick off earnings season
1+ week, 1+ day ago (656+ words) By STAN CHOE, AP Business Writer The S&P 500 slipped 0.3% after drifting earlier between small gains and losses. The Dow Jones Industrial Average was down 244 points, or 0.5%, as of 10:45 a.m. Eastern time, and the Nasdaq composite was 0.4% lower. Both the S…...
Inflation cooled slightly in December though it remains above Fed’s target
1+ week, 1+ day ago (791+ words) Consumer prices rose 0.3% in December from the prior month, the'Labor Department said Tuesday, the same as'in November. Excluding the volatile food and energy categories, core prices rose 0.2%, also matching November's figure. Increases at that pace, over time, would bring inflation…...
Meta names former Trump adviser Dina Powell McCormick as president and vice chairman
1+ week, 1+ day ago (224+ words) Powell McCormick previously served on Meta's board of directors " where, the company notes, she was "deeply engaged" in accelerating its artificial intelligence push across platforms. In her new management role, Meta says Powell McCormick will help guide its overall strategy,…...
Bringing charges against the Fed: What we do (and don’t) know
1+ week, 1+ day ago (1003+ words) By PAUL WISEMAN, Associated Press Trump has repeatedly criticized Powell and the Fed for not moving faster to cut rates. Economists warn that a politicized Fed that caves in to the president's demands will damage its credibility as an inflation…...
Trump pushes a 1-year, 10% cap on credit card interest rates and banks balk
1+ week, 3+ day ago (636+ words) By KEN SWEET and SEUNG MIN KIM Trump was not clear in his social media post Friday night whether a cap might take effect through executive action or legislation, though one Republican senator said he had spoken with the president…...
Budget office expects Federal Reserve to cut rates in 2026
1+ week, 5+ day ago (309+ words) Despite the Fed's cuts, however, the budget office projects the yield on 10-year Treasury notes to increase gradually, from 4.1% in the fourth quarter of 2025 to 4.3% in the fourth quarter of 2028. The 10-year Treasury yield is a benchmark for mortgage rates,…...
Average US long-term mortgage rate edges higher but remains near 2025 low
1+ week, 5+ day ago (514+ words) The average rate on a 30-year U.S. mortgage edged higher this week to just above its 2025 low. The average long-term mortgage rate rose to 6.16%, mortgage buyer Freddie Mac said Thursday. That's up slightly from 6.15% last week, when the average rate dropped…...