DFLers in the majority praise what the forecast means for their priorities, but vow responsible budgeting. Meanwhile Republicans say the surplus is a sign Minnesota is overtaxing its residents.
It’s a tradition that stretches back to the 19th century — with pioneers headed west in search of gold and silver.
A century of Swiss exceptionalism is ending with shocking speed. Everything is going wrong at once.
Many companies blame their mass layoffs on an economic downturn, but Stanford professor Jeffrey Pfeffer says simple copycat behavior is also at play.
The Joint Economic Committee unveiled a report on the consequences failing to raise the debt ceiling would have on millions of Americans.
President Biden's budget contains some good news for Medicare beneficiaries, but it offers no solution for the problems facing Social Security.
Borrowings at small banks, defined as all but the biggest 25 commercial U.S. banks, increased by $253 billion to a record $669.6 billion, the Fed's weekly data showed. "As a result, small banks had $97 billion more in cash on hand at the end of the week, suggesting that some of the borrowing was to build war chests as a precautionary measure in case depositors asked to redeem their money," Capital Economics' analyst Paul Ashworth wrote. SVB collapsed after it was unable to meet a swift and massive run by depositors who took out tens of billions of dollars in a matter of hours.
St. Louis Fed president Bullard told Bloomberg Friday he fears '70s-style inflation will hit the global economy if the Fed changes its inflation target.
The Fed is still fighting last year’s war against inflation. It needs to pivot fast
In more alarming news about the state of Social Security, some experts are warning that up to 20% in payment cuts could be coming as early as 2032, per CNN, unless Congress intervenes with measures to...
Deutsche Bank is the latest to spark concern, and it follows the recent collapses of Silvergate, Silicon Valley Bank, Signature and Credit Suisse.
While the federal government is dealing with a debt ceiling crisis, many local states have a cash surplus: so-called "rainy day funds." In fact, 27 states are now considering cutting taxes (or...
Democrats called the deadlocked votes "a power grab" while Republicans said the overall price tag was too high.
A new survey reveals a more cautious C-suite.
The Washington Supreme Court on Friday upheld the state's new capital gains tax, which was adopted by lawmakers in an effort to balance what is considered the nation's most regressive tax code.
The White House has been hitting back on Republicans about security at the southern border, touting the administration’s budget proposal as a way in on an issue that has been a major weak spot for President Biden. The White House has been using the House Freedom Caucus budget, and the cuts that their proposal could…
A recession is a period of prolonged economic downturn, and many experts are predicting one will soon hit the United States for a number of reasons, including efforts by the Federal Reserve (the U.S. central bank) to cool inflation by tightening the supply of money. If a recession happens, that means the economy as a whole is struggling. According to finance expert Suze Orman, the biggest risk that individuals face in a recession has to do with the potential loss of their income.
The Washington Supreme Court on Friday upheld the state's new capital gains tax, which was adopted by lawmakers in an effort to balance what is considered the nation's most regressive tax code. In a 7-2 decision, the justices found the tax to be an excise tax — not a property tax, which the state Constitution limits to 1% annually, or an income tax, which Supreme Court decisions dating to the 1930s have found unconstitutional. “For 134 years, Washington state has been waiting for the day when a fairer tax system came about, one where working people were not carrying an inequitable share of the burden," Gov. Jay Inslee, a Democrat, said in a statement.
(Bloomberg) -- Mexico’s economic activity beat all estimates in January, expanding at the fastest annual pace in five months as the country continues to recover more quickly than expected.Most Read from BloombergDeutsche Bank Drops in Selloff Citi Describes as IrrationalRussia Seeks 400,000 More Recruits as Latest Ukraine Push Stalls‘Zoom Towns’ Exploded in the Work-From-Home Era. Now New Residents Are Facing LayoffsBuy-or-Rent Premium Is Highest Since 2006 Housing BubbleActivity in Latin Americ
Yahoo Finance's Jared Blikre breaks down the importance of Credit Suisse's and Deutsche Bank's health in regard to the U.S. economy.
Since last year, the ARK Invest CEO has been warning that the Fed's interest-rate increases could break the financial system.
