May 17, 2023
“The IRS on Monday said that Black taxpayers are significantly more likely to face an IRS audit, confirming recent findings. IRS Commissioner Daniel Werfel said the agency is weighing changes to address the disparity. A study released in January by economists at Stanford University,… Continue Reading…
May 16, 2023
“…The strategist reiterated a call to remain underweight both US and European stocks as X-date approaches, with a potential political standoff on a resolution exacerbating the already present threat of a recession — particularly if 2011’s debt event is any… Continue Reading…
May 16, 2023
“…The advanced sales report showed an increase of 0.4%, below the Dow Jones estimate for 0.8%. Excluding auto-related figures, sales increased 0.4%, which was in line with expectations. As the numbers are not adjusted for inflation, the headline increase equaled the 0.4%… Continue Reading…
May 15, 2023
” America’s wheat fields have become so plagued by drought that farmers are now poised to abandon crops at the highest rate in more than a century. Producers are expected to harvest about 67% of their planted acres, the US Department… Continue Reading…
May 12, 2023
“Large U.S. lenders will bear most of the cost of replenishing a deposit insurance fund that was drained of $16 billion by the collapse of Silicon Valley Bank and two other lenders, although mid-sized banks will also be on the… Continue Reading…
May 12, 2023
“Japanese investors bought a record amount of Treasuries in the first three months of the year as concern over the US banking sector damped bets on Federal Reserve rate hikes… Net purchases totaled ¥9.12 trillion ($68 billion) in the January-March… Continue Reading…
May 1, 2023
“Regulators took possession of First Republic on Monday, resulting in the third failure of an American bank since March, after a last-ditch effort to persuade rival lenders to keep the ailing bank afloat failed. JPMorgan Chase , already the largest… Continue Reading…
April 27, 2023
“Growth in the U.S. slowed considerably during the first three months of the year as interest rate increases and inflation took hold of an economy largely expected to decelerate even further ahead. Gross domestic product, a measure of all goods… Continue Reading…
April 26, 2023
“…A government debt default would be catastrophic for the US economy, sparking mass unemployment, payment failures, and interest rates rising “into perpetuity,” according to US Treasury Secretary Janet Yellen. “Since 1789, the United States has paid all of our bills… Continue Reading…
April 4, 2023
“Manhattan real estate sales fell 38% in the first quarter, as buyers and sellers battled over prices and mortgage rates remained volatile, according to new reports. Total sales volume fell to $4.4 billion in the quarter, with 2,242 apartments and… Continue Reading…
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