Fed

Nearly 45 million Americans collectively owe more than $1.7 trillion in 2023 and have an average outstanding loan balance of less than $25,000, according to the Federal Reserve. (Getty Images)

Borrowers weigh personal, professional options as student loan payments resume

BY: - November 3, 2023

Justin Brown, a father of a 2-year-old who lives with his wife in the St. Louis, Missouri area, has $20,000 in student loan debt. Before the pause on loan payments at the start of the pandemic in 2020, he paid $300 a month. But now that Brown has a family, his financial responsibilities have grown […]

Silicon Valley Bank’s collapse differs from our last financial crisis

BY: - March 15, 2023

After the largest U.S. bank failure in more than a decade, regional bank stocks plunged on Monday as the federal government — with the 2007-2008 financial crisis still a fresh memory for many — rushed to reassure Americans that the U.S. banking system was stable. President Joe Biden told Americans that the risks taken on […]

Powell signals higher interest rates. Here’s why Friday’s jobs report will affect Fed’s decision.

BY: - March 9, 2023

Federal Reserve Chairman Jerome Powell said this week that interest rate increases could be higher and come faster if Friday’s unemployment data shows the nation’s labor market isn’t cooling off. Stock indexes fell after his comments. That’s been a familiar pattern over the past year as the federal bank has tried to combat inflation.  A […]

Nomination of Sarah Bloom Raskin for Fed seat in doubt after Manchin opposition

BY: - March 15, 2022

U.S. Sen. Joe Manchin III will not support one of President Joe Biden’s picks to sit on the Federal Reserve Board, Sarah Bloom Raskin of Maryland, Manchin said Monday. The announcement casts serious doubt on the chances of Senate confirmation for Raskin, who was a Fed governor from 2010 to 2014 and deputy Treasury secretary […]