Images By Tang Ming Tung | Digitalvision | Getty ImagesMany people, especially those with debt, will be discouraged by the recent Federal Reserve forecast of a slower pace of interest rate cuts than previously forecast.However, others with money in high-yield cash accounts will benefit from a "higher for longer" regime,...
Category: Finance
Biggest banks sue the Federal Reserve over annual stress tests
A group of banks and business groups are suing the Federal Reserve over the annual bank stress tests.The Bank Policy Institute, which represents big banks like JPMorgan, Citigroup and Goldman Sachs, is joining the American Bankers Association, the Ohio Bankers League, the Ohio Chamber of Commerce and the U.S. Chamber...
Why the ‘great resignation’ became the ‘great stay,’ according to labor economists
Sdi Productions | E+ | Getty ImagesThe U.S. job market has undergone a dramatic transformation in recent years, from one characterized by record levels of employee turnover to one in which there is little churn.In short, the "great resignation" of 2021 and 2022 has morphed into what some labor economists...
CFPB sues JPMorgan Chase, Bank of America and Wells Fargo over Zelle payment fraud
Rohit Chopra, director of the CFPB, testifies during the Senate Banking, Housing and Urban Affairs Committee hearing titled "The Consumer Financial Protection Bureau's Semi-Annual Report to Congress," in the Dirksen Building on Nov. 30, 2023.Tom Williams | Cq-roll Call, Inc. | Getty ImagesThe Consumer Financial Protection Bureau on Friday sued...
Chinese self-driving trucking company pivots to generative AI for video games
Workers setting up the TuSimple booth for CES 2022 at the Las Vegas Convention Center on Jan. 3, 2022.Alex Wong | Getty Images News | Getty ImagesEmbattled Chinese autonomous trucking company TuSimple has rebranded to CreateAI, focusing on video games and animation, the company announced Thursday.The news comes as GM...