Mortgage rates jump again, sending homebuyers to the sidelines
The brisk jump in rates, along with a sharp increase in home prices, has been pushing potential homebuyers out of the market.
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Accounting-tech firm Decimal lands $9.2M investment
Decimal’s software platform helps customers automate and outsource accounting tasks like bookkeeping and payroll. The company has added 30 employees since February.
Amid crypto turmoil, senators propose sweeping oversight
Wide-ranging bipartisan legislation unveiled Tuesday would regulate cryptocurrencies and other digital assets following a series of high-profile busts and failures.
Fishers tech firm Vibenomics lands $12.3M in growth capital
Fishers-based Vibenomics, which provides in-store music, audio advertising and messaging to retail customers, said the funding will help fuel its growth.
Analysis: U.S. policymakers misjudged inflation threat until it was too late
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.
Fed officials signal rates might head to ‘restrictive’ levels
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.
Stock market slump unsettling Americans eying retirement
A stock market slump this year has taken a big bite out of investors’ portfolios, including retirement plans like 401(k)s.
Powell: Fed to keep hiking rates until it controls inflation
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.
Senate confirms Powell for second term as Federal Reserve chief
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.
Crypto comes to Washington. Will the millions buy influence?
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.
Indianapolis-based Centerfield launches $400M investment fund
The investment fund is Centerfield Capital Partners’ fifth, and the largest yet in the private-equity firm’s 24-year history.
Fed: Inflation, Ukraine biggest threats to financial system
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.
Wall Street’s losses worsen as markets tumble worldwide
U.S. stocks are tumbling toward their lowest point in more than a year as renewed worries about China’s economy pile on top of markets already battered by rising interest rates.
Cryptocurrency bank with Hoosier connections draws banking regulators’ scrutiny
San Francisco-based Anchorage Digital Bank, which announced in January its plans to open an Indiana office, is the subject of a consent order issued by federal banking regulators. But both the regulators and Anchorage say the bank is working to come into compliance with Bank Secrecy Act and anti-money-laundering regulations.
In wicked reversal, stock market has worst day in two years
The sell-off was a sharp reversal of fortunes after markets posted large gains on Wednesday, a whiplash caused by temporary confusion over the Federal Reserve’s approach to raising interest rates this year.
Anti-discriminatory bank law getting update for modern era
The three major U.S. banking regulators said Thursday they a plan to rewrite much of the outdated regulations tied to a decades-old banking law designed to encourage lending to the poor and racial minorities in the areas where banks have branches.
First Internet Bank’s acquisition deal with Georgia bank terminated
First Internet announced in November that it planned to acquire Georgia-based First Century Bank for about $80 million. But when it became necessary to extend the closing date, the parties couldn’t agree on extension terms.
Biden taking ‘hard look’ at student loan forgiveness
White House press secretary Jen Psaki said Thursday that President Joe Biden was still considering whether to tie debt relief to borrowers’ income levels, an idea he’s floated in the past. She said it’s “certainly something he would be looking at.”
Brainard wins Senate confirmation to be Fed’s vice chair
The relatively close vote reflects the increasingly partisan atmosphere in Congress that is now engulfing the nomination process for the Fed, an independent institution that has sought to remain above politics.
Education Department gives more borrowers chance of student loan cancellation
Despite fine-tuning over the years, government audits show the Education Department has provided insufficient instructions to contractors managing its loan portfolio. That oversight has resulted in inconsistent loan servicing to the detriment of borrowers.