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 of 1.5 to 1.75 percent, and noted that further rate changes will be driven by “incoming economic information and other developments.” Powell also said that the Fed could well continue to gradually raise the interest rates if the economy continues to expand and inflation remains at target levels.
WeWork, once valued at $40 billion, warns of possible bankruptcy as it submits ‘going concern’ notice
WeWork has warned its investors that it may have to file for bankruptcy due to uncertainties surrounding its business. On Monday, the company said in a regulatory filing that it had submitted a “going concern” notice, which acknowledges that it may not be able to continue operating if it fails to raise new funding or […]
In the wake of an unprecedented number of travel restrictions due to the coronavirus pandemic, tourists hoping to get refunds for upcoming trips to Maui have been met with conflicting and muddled responses from Airbnb, the popular home-sharing platform. For those trips that haven’t already been canceled by Airbnb, customers have been encouraged to use […]
On July 30, 2020, a second delivery driver in Texas died due to extreme heat conditions while working. The death occurred as the fight for safe working conditions become increasingly more heated, with advocates calling for more protection of workers in extreme weather. The driver, Gilberto Cortes-Silva, was reportedly working in the heat index of […]