By Paul Hannon Central banks should resist the temptation to lower their key interest rates too early and risk a resurgence of inflation and a fresh bout of policy tightening, the head of the International Monetary Fund said Thursday. In a speech ahead of a twice-yearly gathering of economic policy makers from around the world next […]
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 […]
Treasury yields surged to their highest point this year on Monday, but instead of sparking a sell-off, they attracted a wave of new buyers. This unexpected turn of events reflects a shift in market expectations regarding the Federal Reserve’s interest rate policy. Earlier forecasts anticipated three rate cuts from the Fed in 2024. However, strong […]
By Michael S. Derby NEW YORK, March 27 (Reuters) – Recent disappointing inflation data affirms the case for the U.S. Federal Reserve to hold off on cutting its short-term interest rate target, Fed Governor Christopher Waller said on Wednesday, but he did not rule out trimming rates later in the year. “There is no rush to […]
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 […]
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 […]
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 […]
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 […]
By Hannah Green and Greg Ryan Gov. Maura Healey has laid out her plans to reauthorize the Life Sciences Initiative with a new $1 billion, 10-year strategy, as well as put an additional $1 billion toward making the Bay State a hub for the clean energy industry. The so-called “Life Sciences 3.0,” as well as a package of […]
By Justin Baer, Gina Heeb and Lauren Thomas New York Community Bancorp is raising more than $1 billion from a group of investors including former Treasury Secretary Steven Mnuchin, in a bid to shore up confidence in the troubled regional lender. A group led by Mnuchin’s Liberty Strategic Capital, Hudson Bay Capital and Reverence Capital Partners and including Citadel and some of […]
