Author: News Room

Americans are bracing for higher inflation over the next few years even as they worry about a potential credit crunch following a spate of bank failures, according to a key Federal Reserve Bank of New York survey published Monday.  The median expectation is that the inflation rate will be up 4.7% one year from now, according to the New York Federal Reserve’s Survey of Consumer Expectations, up from 4.2% in February. That marks the first series increase since October and adds a perplexing twist to the Fed’s campaign to crush price pressures with a series of aggressive rate hikes. Consumers anticipate…

Walmart has filed a lawsuit against credit card partner Capital One. In a Friday filing in the U.S. District Court for the Southern District of New York, Walmart said it did so in a move to request a “judicial declaration of its right to terminate the contract” it has with Capital One for the bank exclusively issuing its private label and co-branded credit cards. Walmart had given Capital One a contract termination notice the prior day, according to both the Arkansas-based retailer’s court document and a Securities and Exchange Commission (SEC) filing from Capital One. A Walmart spokesperson told FOX Business on…

While the federal government talks a big game when it comes to making higher education more affordable, student loan debt figures show the talking points and programs do not move the needle much in the real world. The fact is, cumulative student debt for Americans has now reached a staggering $1.75 trillion dollars with $28,950 owed per borrower on average. Around 92% of student loans in 2023 were federal as well, with the remaining debt coming from private student loans. Obviously, these figures didn’t get any better during the pandemic since students were still borrowing but federal student loan payments…

Key Takeaways CPI, PPI And Fed Minutes Later This Week Situation In Taiwan Continues To Escalate Bank Stocks Kick Off Earnings Season It was a quiet week for stocks. Major indices were relatively unchanged on the holiday shortened week, although we are on a 3 week winning streak. Volume was also light with many schools out on break and people out of town. That could all change this week though with a bunch of economic data scheduled to be reported and then banks reporting earnings starting on Friday. Last Friday’s jobs report had investors on edge, not just just because…

SAO PAULO (Reuters) – Brazilian Finance Minister Fernando Haddad said on Thursday the country’s central bank has sent “several signs” that measures being taken by government to balance public accounts, including a newly proposed fiscal framework, were “consistent”. As the government pressures policymakers to lower interest rates, Haddad highlighted in an interview with BandNews that central bank chief Roberto Campos Neto has praised the fiscal efforts made so far. Campos Neto at an event on Wednesday said the efforts had eliminated the risk of a “more uncoordinated” debt trajectory, but emphasized there was no mechanical relationship between the fiscal situation…

By Yasin Ebrahim Investing.com – The pound held its gains against the dollar Monday after Bank of England Governor Andrew Bailey said inflation remained the main driver of monetary policy decisions in the wake of concerns about the turmoil in banking. rose 0.45% to remain close to its highs of the day at $1.2285. The Bank of England, or BoE, governor said the Financial Policy Committee — set up after the great financial crisis to ensure the stability of the UK Financial system – was “on the case of securing financial stability,” allowing the central bank to focus on its…

As companies make a push to bring workers back to the office, office buildings built before the 1980s are going to face a reckoning, a new report from Moody’s says.Businesses are working hard to lure people back to the traditional workplace after three years, for many, of remote and hybrid work.  But a reluctance among the working population to fully embrace the return to work is prompting many companies, from Airbnb to Zillow, to offer employees the flexibility to work from anywhere. That spells trouble for commercial real estate, specifically office buildings, as tenants quit them. Coupled with debts coming…

Oil futures ended mixed on Wednesday, with U.S. global benchmark crude up modestly and U.S. prices posting a slight decline after four consecutive session gains. Prices this week had found support from expectations of tighter supplies on the heels of an OPEC+ decision over the weekend to cut oil production. On Wednesday, weak U.S. economic data fed concerns of an economic recession that would hurt energy demand, but government data showing weekly declines in domestic crude, gasoline and distillate supplies, was “far from recessionary,” according to one analyst. Price action West Texas Intermediate crude for May delivery CL.1, -0.98% CL00,…

After a few tranquil days over the long Easter weekend, this week will be anything but quiet for investors. A quirk of the calendar meant the stock market couldn’t react to the March jobs report on Friday. It’s just as well then that the data were in line with expectations. The U.S. economy added 236,000 jobs in March, a slowdown from the 311,000 created the previous month. The solid number, in light of weaker employment data earlier in the week, has tipped the scales in favor of another 25 basis-point hike in May–potentially the last of the rate-hike cycle. But…

The US State Department on Monday officially designated Wall Street Journal reporter Evan Gershkovich as wrongfully detained by Russia. “Today, Secretary Blinken made a determination that Evan Gershkovich is wrongfully detained by Russia,” State Department principal deputy spokesperson Vedant Patel said in a statement. The designation gives further backing to the assertions by the US government and the Wall Street Journal that the espionage charges against the reporter are baseless. It will empower the Biden administration to explore every avenue to try to secure Gershkovich’s release. His case will now be handled at the State Department through the Office of…