It’s a dizzying turn of events for investments and companies that at the start of 2022 seemed to be at their financial and cultural apex. The industry’s combined assets back then were estimated to be worth more than $3 trillion; today, they are worth less than a third of that. Maybe.
Fort Wayne-based 3Rivers Federal Credit Union, which operates 21 branches in northeast and east-central Indiana, plans to spend $7.5 million to construct three branches in central Indiana.
Mortgage applications are down more than 15% from last year and refinancings are down more than 70%, according to the Mortgage Bankers Association.
The result of the rate hikes is increasingly higher borrowing costs as the Fed fights the most painfully high inflation in four decades and ends a decades-long era of historically low rates.
The crypto-exchange giant Coinbase said Tuesday it was laying off nearly one-fifth of its workforce, a sobering sign that the challenges of the once blazingly hot industry go beyond those of troubled bank Celsius to the very heart of the crypto-investment world.
A series of sizable increases would heighten borrowing costs for consumers and businesses, likely leading to an economic slowdown and raising the risk of a recession.
Wall Street is back in the claws of a bear market as worries about inflation and higher interest rates overwhelm investors.
Crypto lender Celsius halted all withdrawals, citing “extreme market conditions.” It is the second collapse of a part of the crypto world in the last two months.
The brisk jump in rates, along with a sharp increase in home prices, has been pushing potential homebuyers out of the market.
Decimal’s software platform helps customers automate and outsource accounting tasks like bookkeeping and payroll. The company has added 30 employees since February.
Wide-ranging bipartisan legislation unveiled Tuesday would regulate cryptocurrencies and other digital assets following a series of high-profile busts and failures.
Fishers-based Vibenomics, which provides in-store music, audio advertising and messaging to retail customers, said the funding will help fuel its growth.
Prices for just about everything Americans buy have spiked in the past two years. Inflation, which had been scarcely noticeable for decades, is suddenly the top concern most people have about the economy. And it all seemed to catch Washington, D.C., by surprise.
Federal Reserve officials agreed when they met earlier this month that they may have to raise interest rates to levels that would weaken the economy as part of their drive to curb inflation, which is near a four-decade high.
A stock market slump this year has taken a big bite out of investors’ portfolios, including retirement plans like 401(k)s.
Chairman Jerome Powell on Tuesday underscored the Federal Reserve’s determination to keep raising interest rates until there is clear evidence inflation is steadily falling—a high-stakes effort that carries the risk of causing an eventual recession.
The 80-19 vote reflected broad support in Congress for the Fed’s drive to combat surging prices through a series of sharp interest rate hikes that could extend well into next year. The Fed’s goal is to slow borrowing and spending enough to ease the inflation pressures.
Cryptocurrency tycoons are emerging as political power players. They are pouring millions of dollars into elections as they try to gain influence over members of Congress who will write laws governing their industry.
The investment fund is Centerfield Capital Partners’ fifth, and the largest yet in the private-equity firm’s 24-year history.
The observations came in the Federal Reserve’s semiannual Financial Stability Report that looks at trends in trading and investing as well as broad economic issues.
