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Fed’s fault-finding on bank failures could lead to stronger regulations
New banking regulations proposed by federal watchdogs don’t go far enough in countering potential problems, but could help lower bank fees and calm financial markets and nerves, leading to a more stable financial system, according to some economists. The Federal Reserve, FDIC and Government Accountability Office released reports blaming mismanagement of risk, including overreliance on uninsured deposits and rapid growth on problems at […]
Credit bureau CEOs face tough questions at Senate hearing; Democrats push to remove medical debt
WASHINGTON — U.S. Senators grilled the executives of three major credit reporting bureaus Thursday on whether their practices are transparent and fair to consumers, with Democrats frequently pressing the CEOs to remove medical debt from the reports. Ohio Democratic Sen. Sherrod Brown, chair of the Senate Committee on Banking, Housing, and Urban Affairs, said all […]
Here’s where gas prices are headed (for now) and why
Drivers across the country have seen that seasonal given play out in recent weeks. The national average for a gallon of regular gas is $3.64 on April 26, up 21 cents over the previous month, according to AAA. The good news is that gas is 49 cents below where it was on April 26 of last year, […]
Long COVID is hurting business. Workplace accommodations could help
Three years after the start of the pandemic, millions of working age people still suffer from long COVID-19 and some lawmakers and advocates, including people with long COVID, say not enough is being done to protect their well-being and ensure they can continue to be employed. Proposed federal legislation, better workplace accommodations, and more federal […]
High mortality rate of homeless highlighted in new report
Barb Anderson, director of Haven House in Jeffersonville, Indiana, works with homeless people to place them into housing. It’s a job that has shown her firsthand the severe health issues facing unhoused people in southern Indiana, where many people live in tents in the woods and under bridges. She is currently working with an older […]
Mortgage rates are stabilizing but that may not be enough to help house hunters
Home prices are cooling off and mortgage rates fell last week, but the fallout from recent bank closures could continue to make it hard for some Americans to buy homes, economists say. Mortgage rates fell to 6.32% for a 30-year fixed rate mortgage, Freddie Mac data released on Thursday shows. Last fall, the 30-year fixed rate mortgage […]
Help wanted: Women needed for U.S. chips manufacturing plan to succeed
Natalie Bell was thinking about a career in art after college when a welding class and a delivery of four pizzas changed her career trajectory. “I was taking a delivery out to a construction site and I met an ironworker who I was taking the delivery to,” said Bell, who lives in Columbus, Ohio. “I […]
Silicon Valley Bank’s collapse differs from our last financial crisis
After the largest U.S. bank failure in more than a decade, regional bank stocks plunged on Monday as the federal government — with the 2007-2008 financial crisis still a fresh memory for many — rushed to reassure Americans that the U.S. banking system was stable. President Joe Biden told Americans that the risks taken on by failed banks will […]
Powell signals higher interest rates. Here’s why Friday’s jobs report will affect Fed’s decision
Federal Reserve Chairman Jerome Powell said this week that interest rate increases could be higher and come faster if Friday’s unemployment data shows the nation’s labor market isn’t cooling off. Stock indexes fell after his comments. That’s been a familiar pattern over the past year as the federal bank has tried to combat inflation. A […]
Child poverty dropped to a record low last year. A new report shows how to keep it that way
The expanded child tax credit that families received in 2021 helped reduce child poverty across the country, but particularly in the South where families lack a sufficient safety net, according to a paper released on Wednesday. The report by the Hamilton Project, the Brookings Institution’s economic policy initiative, comes as some Democrats appear ready to attempt another […]
Families are taking a hit as pandemic aid ends, inflation continues
Forty million people in the U.S. are having difficulty affording household expenses, and a little more than 25 million people say they sometimes or often do not have enough to eat, according to the U.S. Census Bureau’s most recent Household Pulse survey data. The survey is designed to collect data on household experiences during the pandemic as […]
Rural hospitals gird for unwinding of pandemic Medicaid coverage
Donald Lloyd, CEO and president of St. Claire HealthCare in Morehead, Kentucky, has spent more than a year dealing with higher costs for food and medical supplies for his regional hospital. Now he’s trying to prepare for another financial hit — the loss of Medicaid reimbursements for treating people in rural Appalachia. “We are all […]