News
Consumer confidence ticks up as gas prices fall, economic gloom lingers
2+ hour, 7+ min ago (362+ words) The Conference Board said Tuesday that its'consumer confidence index'rose 0. 6 point to 91. 2 in June, a figure that is still below its year-ago reading of 95. 2. Consumer attitudes worsened after the Iran war caused oil and gas prices to spike, accelerating inflation and…...
What the Supreme Court's ruling in the Cook case means for Federal Reserve independence
17+ hour, 58+ min ago (796+ words) The case is the latest round in an unprecedented fight between the Fed and President Donald Trump. More political interference at the Fed could upend financial markets around the world, which'closely follow'its interest rate moves. In a'5-4 decision, the court…...
All 32 of the nation's biggest banks clear the Fed's annual "stress test'
5+ day, 17+ hour ago (199+ words) By KEN SWEET, AP Business Writer The annual stress test measures whether a bank's capital, a financial cushion it uses to absorb losses, would remain at healthy levels even after hundreds of billions of dollars in projected losses. The tests…...
How Powell's Fed whipsawed Southern California homebuying
1+ mon, 1+ day ago (683+ words) Jerome Powell's days as Federal Reserve boss were akin to a roller coaster ride for Southern California's housing market. You can't pin all of housing's gyrations on the now-departed Fed chairman. Yet his eight years as the head of the…...
Average US long-term mortgage rate eases to 6. 36% in first drop after two straight weekly increases
1+ mon, 2+ week ago (446+ words) The average long-term U. S. mortgage rate edged lower after rising the previous two weeks. The benchmark 30-year fixed rate mortgage rate fell to 6. 36% from 6. 37% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the rate averaged 6. 81%. Borrowing costs on…...
Trump promised to cut electric costs in half. Bills in energy-rich West Virginia now top mortgages
2+ mon, 3+ week ago (1341+ words) It makes no sense. She turns the lights off during the day and only burns one lamp with an energy-efficient bulb in the living room at night, but she keeps falling further behind on payments. In desperation, she took out…...
Prosecutor conceded lack of criminal evidence in Federal Reserve investigation, transcript shows
3+ mon, 5+ day ago (629+ words) By MICHAEL KUNZELMAN and CHRISTOPHER RUGABER That admission by Assistant U. S. Attorney Andrew Massucco came during a March 3 hearing that was closed to the public, the transcript shows. Eight days later, Chief Judge James Boasberg quashed government subpoenas issued to the…...
US consumer confidence improves modestly in February after cratering the first month of 2026
4+ mon, 6+ day ago (327+ words) By MATT OTT, AP Business Writer The Conference Board said Tuesday that its consumer confidence index rose to 91. 2 in February from an upwardly revised 89 last month. A measure of Americans" short-term expectations for their income, business conditions and the job…...
National debt continues to threaten economic growth
10+ mon, 1+ week ago (395+ words) Last week, the national debt surpassed $37 trillion, twice what it was just a decade ago. Once upon a time, the national debt was the subject of intense national debate. Democrats and Republicans once recognized the perils of a growing national…...
Fed's Waller says rate cut in March is a "coin flip' following a strong US jobs report
4+ mon, 1+ week ago (536+ words) At the same time, Waller said last month's pickup in hiring, when employers added a more-than-expected 130, 000 jobs, could have been a one-time gain. He said he would need to see a similarly positive report next month to conclude the job…...