Update 774 — A Meltdown Retrospective:Lessons Learned from the 2023 Bank Crisis With a year’s perspective, we can look back now at the worst banking crisis in the U.S. since the 2008 financial crisis — and appreciate how and why the failures of that episode were not replicated in 2023. While the frailties of SVB, …
Update 773 — Supplemental’s Status, Roundup of Week’s Other Developments It isn’t the express train but the long-lingering local that the $95 billion international assistance package, originally requested by the administration over six months ago, is riding en route to the finish line in Congress. Once enacted, the White House will sign and herald most …
Update 771 — CPI Hotter Than Expected;March Report Dampens Rate Cut Outlook Following this week’s CPI report for March, observers ranging from President Biden to Fed Governors to market participants agree that the trends in stubbornly elevated prices thus far this year point to a reduced likelihood of a Fed pivot to interest rate cuts …
Update 770 — Major Student Debt Relief ReduxBiden’s Effort to Make Good on 2020 Promises On Monday, President Biden announced a plan to provide an estimated $84 billion in new debt relief for nearly 30 million of the 43 million borrowers facing $1.6 trillion in outstanding federal student loans. The effort seeks to make good …
Today, 20/20 Vison was proud to join over 140 organizations in submitting a comment in support of the Consumer Financial Protection Bureau’s proposed rule to rein in overdraft fees by the largest financial institutions.
Update 767 — Weekly Econ. Roundup:Prices, GDP, SBF, a Bridge in Baltimore While Congress began a two-week recess, the economic world took no time off, with new readings in on prices and GDP, a decades-long prison sentence for fraud for the disgraced Sam Bankman-Fried of FTX notoriety, and an infrastructure disaster in Baltimore that Congress …
Update 766 – Impact of Organized Labor On Wages, Conditions, Markets, Politics For several years now, we have seen a labor market so “tight” that job opportunities have outnumbered workers available to fill them, with big gains in wages as demand outstrips supply. Within that market is organized labor, which has seen, or led, much of …
Update 765 — FY24’s Bell Lap at LastDOJ vs Apple; Bank Merger Rules; NAR Congress is poised to pass the six remaining appropriations bills for FY24 almost halfway through the current fiscal year. Though disagreements between Speaker Johnson and the White House endangered the package in its final stages of negotiation, Democrats have emerged from …
Update 764 — FOMC’s Dot Plot Thickens:Fed Holds Rates Steady, Cut Timing Unsure The Fed decided once again today to maintain its 5.25 to 5.50 percent interest rate, keeping rates at the same level since July, seeing neither an imminent resurgence in nor retreat from the annualized ballpark three percent inflation rate that has settled …
Update 763 — 2024 Prices’ Holding PatternCPI Pause to Beget Another Fed Rate Pause The most critical economic variable in the minds of voters today is probably the cost of living — everyday expenses and purchasing power. Over the coming months, Americans will make choices about whether to vote and how with these in mind. …
