Economy

What is Stagflation? Why Economists Are Worrying About a 1970s-style Catastrophe

Economy, Russia-Ukraine War / By

Published by FOX Business | May 20, 2022 Stagflation is the combination of economic stagnation and high inflation, characterized by soaring consumer prices as well as high unemployment.  Soaring consumer prices, supply chain shocks, rising energy costs and a hawkish Federal Reserve determined to bring inflation under control: These are the worrisome attributes of the U.S. economy that have …

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Regulators Propose First Major Revamp to Fair Housing Rules Since 1995

Economy / By

Published by CNBC | May 5, 2022 Bank regulators on Thursday proposed the first sweeping changes in more than 25 years to a controversial law aimed at increasing lending to low- and moderate-income communities. The changes would tailor the Community Reinvestment Act’s approach to making sure banks are not engaging in “redlining,” or refusing to …

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The CFPB Under Rohit Chopra is Harming Competition and Consumer Choice

Behind The News, Economy, Investments / By

Published by U.S. Chamber of Commerce | April 20, 2022 The Consumer Financial Protection Bureau is departing from its core responsibilities by attempting to regulate market competition, shunning procedural requirements under the Administrative Procedure Act, and devising new enforcement powers for the Director. The core mission of the Consumer Financial Protection Bureau (CFPB) is to …

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Inflation Edges Higher, Affecting Housing

Economy, Interest Rates, Mortgages, Russia-Ukraine War / By

Published by REALTOR Magazine | April 13, 2022 Over the last year, the cost of shelter has increased 5%, marking the largest increase in four decades The rate of inflation reached 8.5% in March, continuing at a 40-year high and showing few signs of relief for consumers. Higher gas prices, food, and housing costs fueled the consumer …

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Biden Proposes New Minimum Tax on Billionaires, Unrealized Gains

Economy, Investments, Taxes / By

Published by FOX Business | March 28, 2022 The “Billionaire Minimum Income Tax” would establish a 20% minimum tax on all U.S. households worth more than $100 million President Biden has unveiled a new minimum tax targeting billionaires as part of his 2023 budget request, proposing a 20% rate that would hit both the income and …

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STUDY: 57% of American Households Paid No Income Tax Last Year

Covid-19, Economy, Taxes / By

Published by FOX Business | March 25, 2022 Households that paid no federal income tax expected to plunge next year More than half of U.S. households paid no federal income taxes in 2021, a temporary spike attributed to massive COVID-19 relief spending in the form of tax credits and stimulus payments. A recent analysis from the …

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Mortgage Rates Are Surging Faster Than Expected, Prompting Economists to Lower Their Home Sales Forecasts

Economy, Interest Rates, Mortgages, Russia-Ukraine War / By

Published by CNBC | March 23, 2022 The 30-year fixed mortgage loosely follows the yield on the 10-year U.S. Treasury, which is now at the highest level since May 2019. The average rate on the popular 30-year fixed mortgage hit 4.72% on Tuesday, moving 26 basis points higher since just Friday, according to Mortgage News Daily. …

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