Economy

Hot Inflation Report Derails Case for Fed June Rate Cut

Hot Inflation Report Derails Case for Fed June Rate Cut

By Sam Goldfarb and Nick Timiraos Stubborn inflation pressures persisted in March, derailing the case for the Federal Reserve to begin reducing interest rates in June and raising questions over whether it can deliver cuts this year without signs of an economic slowdown. The consumer-price index, a measure of goods and services prices across the economy, rose 3.5% in […]

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Boston Eyes Commercial Tax Hike to Counter Office Market Dip

Boston Eyes Commercial Tax Hike to Counter Office Market Dip

By Brooke Sutherland and Sri Taylor Boston Mayor Michelle Wu is seeking to raise commercial property tax rates to help protect homeowners from the brunt of the historic slump in office property values. Wu has submitted a petition for a temporary increase of the city’s tax-rate ceiling for commercial properties relative to residential levies. The proposal aims to redistribute the tax burden […]

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Yellen Says Rates ‘Unlikely’ to Return to Pre-Covid Levels

Yellen Says Rates ‘Unlikely’ to Return to Pre-Covid Levels

By Viktoria Dendrinou and Christopher Condon US Treasury Secretary Janet Yellen said it’s “unlikely” that market interest rates will return to levels that prevailed before the Covid-19 pandemic triggered a wave of inflation and higher yields. Asked why White House projections released Monday showed markedly higher expectations for interest rates in coming years compared with projections a year ago, Yellen said the new numbers […]

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U.S. Hiring Remains Strong: U.S. employers added 275,000 jobs last monthU.S. Hiring Remains Strong:

U.S. Hiring Remains Strong: U.S. employers added 275,000 jobs last monthU.S. Hiring Remains Strong:

By Lydia DePillis If the economy is slowing down, nobody told the labor market. Employers added 275,000 jobs in February, the Labor Department reported Friday, in another month that exceeded expectations. It was the third straight month of gains above 200,000, and the 38th consecutive month of growth — fresh evidence that after surging back […]

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Wall Street Gets Big Win as Powell Floats Scrapping Capital Plan

Wall Street Gets Big Win as Powell Floats Scrapping Capital Plan

By: Katanga Johnson & Craig Torres Wall Street banks are on the cusp of a sweeping regulatory victory after Federal Reserve Chair Jerome Powell signaled officials would scale back plans to make them hold more capital. The world’s most powerful central banker flatly told lawmakers Wednesday that the government’s plan was in for “broad and material changes,” and that […]

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Wall Street Wins After Powell Signals Changes to Contentious Bank Rules

Wall Street Wins After Powell Signals Changes to Contentious Bank Rules

By Katanga Johnson and Craig Torres Wall Street banks are on the cusp of a sweeping regulatory victory after Federal Reserve Chair Jerome Powell signaled officials would scale back plans to make them hold more capital. The world’s most powerful central banker flatly told lawmakers Wednesday that the government’s plan was in for “broad and material changes,” and that a complete do-over […]

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