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California Might Finally Put a Lid on High-Interest Lenders

The California Assembly has passed legislation to end a 34-year era during which non-bank lenders have been free to charge consumers unlimited interest rates on loans from $2,500 to $10,000. By setting a 36% annual rate cap on such loans, Assembly Bill 539 by Assembly Banking and Finance Committee Chairwoman Monique Limón,...

Chairman Says Fed Ready to Respond to Trade Conflicts

WASHINGTON — Chairman Jerome Powell said Tuesday the Federal Reserve is prepared to respond to the Trump administration's trade conflicts to protect the U.S. economy, signaling the Fed will cut interest rates if necessary. Powell's comments gave a lift to stock markets, with the Dow Jones industrial average up over...

Walters: Capping High Interest Rates on Loans Doesn't Fix Poverty

Last month, the Federal Reserve System issued a report on “the economic well-being of U.S. households” and it contained a rather disturbing bit of data. “If faced with an unexpected expense of $400,” a survey of American households found, “61% of adults say they would cover it with cash, savings,...

Stocks Fall as Bond Market Flashes a Recession Warning

By Matt Phillips The bond market smells a recession. On Friday, stock investors caught a whiff, too. Economic forecasters and Wall Street traders have been watching for months as interest rates on long-term U.S. government bonds have dropped toward the rates on short-term debt. Investors normally demand higher yields to buy...

Are You Getting a Raise? US Wages Climb Fastest Since 2009.

WASHINGTON — The pace of hiring in the United States quickened in August, and wages grew at their fastest pace in nine years — evidence that employers remain confident despite the Trump administration's ongoing conflicts with its trading partners. The economy added a strong 201,000 jobs, and the unemployment rate...

Rise in Interest Rates Could Be Short-Lived: CNBC Report

The Federal Reserve meets today and Wednesday and a published report suggests that the central bank could halt the rise of interest rates earlier than expected. Should that happen, analysts speculate, the economy's prolonged expansion could last longer than previously forecast. CNBC reports that while the Fed is expected to...

California Cities Work Both Sides of the Street on Climate Change: Walters

Officials in five cities and three counties have filed lawsuits alleging that companies knowingly emitted greenhouse gases that will damage those communities as oceans rise, and should pay for it, Dan Walters writes in his Feb. 12 CALmatters column. So, what's the rub? Explains Walters: "It’s easy to file a...

California Cities Work Both Sides of the Street on Climate Change: Walters

Officials in five cities and three counties have filed lawsuits alleging that companies knowingly emitted greenhouse gases that will damage those communities as oceans rise, and should pay for it, Dan Walters writes in his Feb. 12 CALmatters column. So, what's the rub? Explains Walters: "It’s easy to file a...

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