Jim Cochran, who is serving a 25-year prison sentence for his role in the Fair Finance fraud, says he has undergone a religious conversion that no longer makes him a risk to society.
Janet Yellen’s comments reignited fears raised by some economists and business leaders that trillions of dollars in new spending that the government has authorized since March 2020 could lead the Federal Reserve to take steps that cool off the economy.
Fishers-based First Internet Bank began assembling its Small Business Administration lending division in late 2018.
Federal Reserve Chairman Jerome Powell Powell said he thinks the inflation pressures that are now building in the U.S. economy, partly in response to clogged supply chains that have created shortages of some goods and components, will prove temporary.
Madoff enjoyed an image as a self-made financial guru whose Midas touch defied market fluctuations. But his investment advisory business was exposed in 2008 as a multibillion-dollar Ponzi scheme that wiped out people’s fortunes and ruined charities and foundations.
Federal Reserve Chairman Jerome Powell said that he doesn’t expect to raise the Fed’s benchmark interest rate, currently pegged at nearly zero, this year.
The rollout of COVID-19 vaccines and vast sums of government aid will accelerate global economic growth to a record high this year in a powerful rebound from the pandemic recession, the International Monetary Fund says in its latest forecast.
The S&P 500 and Dow Jones industrial average both reached record highs as the economy showed more signs that it’s continuing to recover.
The financially troubled credit union had been operating under a conservatorship since January. As part of the liquidation, about 500 members and most of their deposits have been transferred to Indianapolis-based Elements Financial Credit Union.
Federal investigators say George S. Blankenbaker Jr. and three of his companies raised more than $11 million from at least 109 investors in a fraudulent scheme he operated from 2016 to 2019.
One frequent mistake of first-time homebuyers is to “over buy,” thinking their future salary will make the payments easier. Buy a house you can afford and will enjoy.
The easing of the regulation had been intended to give banks flexibility in what assets they could hold to meet regulatory requirements during the t ffthe pandemic, when banks were having to suddenly write down billions of dollars of loans.
Another climb in bond yields helped pull money out of Big Tech companies, which have started to look expensive after months of soaring through the pandemic.
Tech shares tumbled anew on Monday, sending the Nasdaq composite index down 11% from its all-time high, as investors fled high-valuation stocks for companies whose fortunes are closely tied to the economic cycle.
Janet Yellen, the first woman to head the Federal Reserve and the U.S. Treasury Department, said “there is a cultural problem in the profession, and we need to change the culture.”
Investors were encouraged by a government report that U.S. employers picked up the pace of hiring last month.
Consumer borrowing is closely watched for indications about Americans’ willingness to take on more debt to finance their spending, which accounts for two-thirds of U.S. economic activity.
Many businesses are facing liquidity constraints or are being required to redesign their business model to respond to evolving consumer trends or supply-chain disruptions.
The Office of the Comptroller of the Currency, which regulates federally chartered U.S. banks, has recently given banks the go-ahead to engage in certain types of cryptocurrency transactions.
The speed at which the yield on the 10-year Treasury has climbed has forced investors to re-examine how they value stocks, bonds and every other investment. And the immediate verdict has been to sell them at lower prices.
