According to a new report from the Center on Budget and Policy Priorities, millions of parents and children could be denied food aid in 2021 without a significant funding boost from the U.S. government. The report estimates that nearly 4 million households—including an estimated 7 million children—who rely on the Supplemental Nutrition Assistance Program (SNAP) […]
Blue-collar hiring and pay gains remain strong in a cooling job market, largely driven by the still-hot housing market and ongoing demand for transportation workers, according to the latest jobs report. The Bureau of Labor Statistics reported that job gains in construction, transportation, and warehousing hit a record at the end of June and wages […]
The housing market may be thawing due to recent changes in mortgage rates and the amount of listings available. In the months of July and August, mortgage rates have dropped from a high of 4.31 percent in June to a low of 3.75 percent in August. This drop has resulted in more home buyers entering […]
The Federal Reserve will likely take a cautious approach as it prepares its final interest rate decision of 2023. Over the course of the year, it is likely that the Fed will remain focused on providing monetary accommodation to support the economy. This could include potentially maintaining its current near-zero federal funds target range and […]
In January 2021, the U.S. Comptroller of the Currency, the Department of Justice, and the Consumer Financial Protection Bureau announced a joint investigation into mortgage pricing discrimination at Wells Fargo and other large banks. Regulators allege that the banks charged Black and Hispanic borrowers higher fees and rates than white borrowers with similar credit profiles. […]
Yes, that is correct. Former Jacksonville Jaguars ticket sales executive Michael English was charged in 2019 with wire fraud for allegedly stealing more than $22 million from the team to fund a luxury shopping spree for himself and several family members. The spree allegedly included the purchase of a $1.2 million condo in Florida, a […]
The National Association of Realtors (NAR) reported that pending home sales in the U.S. dropped to a record low in April. The index of pending home sales decreased by 20.8% from March to a seasonally adjusted reading of 68.9, worse than even the depths of the financial crisis, when it registered at 71.3 in February […]
Federal Reserve Chairman Jerome Powell said it is “premature” to be discussing the possibility of cutting interest rates following the Wednesday announcement of the March rate hike. Powell noted that future rate hikes are both possible and “appropriate” depending on the incoming economic data. The central bank currently has a federal funds rate target range […]
It is too early to say whether the recent victory by the United Auto Workers (UAW) over the Big Three automakers in Detroit will have an indirect impact on workers in other parts of the auto industry. The contract agreement between the UAW and Ford alone will likely change the competitive landscape in the auto […]
The 2021 American Jobs Plan proposed by President Joe Biden aims to create 10 million jobs in the clean energy sector. Of the $2.3 trillion in funding proposed by the plan, $2.2 trillion is earmarked for investments in infrastructure and clean energy, including $400 billion for clean energy investments. It includes a focus on investments […]