Economy

Former Fed official on interest rate hikes: Debt service is ‘the real problem’

Former Federal Reserve Vice Chair Randal Quarles expects the federal government to see financial disruption over the increased cost of debt service. On “Cavuto: Coast to Coast” Friday, former Federal Reserve Vice Chair Randal Quarles argued the Fed has the tools to tackle inflation, but the federal government could face consequences from the increased cost …

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EU Agrees on MiCa Laws to Reign in Cryptocurrency ‘Wild West’

MiCA was first proposed way back in September 2020 by the European Commission.Image: Christopher Furlong (Getty Images) The European Union is planning to temper the volatility of cryptocurrency with a regulatory framework that would establish consumer protection against crypto scams and forces crypto companies to disclose their environmental impact. Discussions in the European Union have …

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Cyberattack impacts unemployment benefits in several states

A on a third-party vendor has impacted employment services, including unemployment benefits, in several states, according to the . Some state employment websites have been offline since Sunday, including the ones in Tennessee and Nebraska. “We recently identified anomalous activity on our network, and immediately took [Tennessee’s] Jobs4TN system offline to halt the activity. With …

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Why declining disposable income could spell trouble for Democrats in the midterms

Data: FactSet, Bureau of Economic Analysis; Chart: Jacque Schrag / Axios A key indicator of the financial health of Americans has declined steadily for the last 14 months, in yet another ominous sign from the economy that Democrats will face tough midterm elections. Driving the news: Real per capita disposable income – the money consumers …

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Stimulus check: Californians will get up to $ 1,050 in “inflation relief” checks

About 23 million California residents will receive “inflation relief” checks of up to $ 1,050 after Governor Gavin Newsom on Thursday signed a $ 308 billion state budget that includes the payments. The checks are part of a $ 17 billion relief package that will also suspend the state’s sales tax on diesel fuel and …

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US government bonds rally after factory data heighten recession fears

US government bonds rallied sharply on Friday after a gloomy report on America’s factory sector intensified concerns over the outlook for the world’s biggest economy. The yield on the 10-year Treasury note, a benchmark for global government bond markets as well as consumer loans and mortgages, dropped 0.13 percentage points to 2.88 per cent in …

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Home Listings Rise in June While Prices Begin to Drop, Demand Reaching ‘Breaking Point’

The US housing market seems to be cooling off as the tight inventory situation shows signs of reversal, according to data from real estate listings website Realtor. In June, the number of real estate listings increased by 18.7 percent compared to the same time in 2021, according to a June 30 news release by the …

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Some McDonald’s ditching dollar-drink promo over inflation

Not even the dollar-drink specials on McDonald’s value menu are safe from the impact of inflation. A number of McDonald’s franchisees are opting to ditch a longstanding promotion offering customers a cold drink of any size for $ 1 as they contend with decades-high inflation, according to a report. Some locations have already started boosting …

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