Most Americans stayed the course with their retirement savings in 2022, even as the stock market fell and inflation rose
Follow
Andrew Ackerman
@amacker
Andrew Ackerman’s Tweets
Looks like no Jay Powell/Humphrey-Hawkins testimony this month in the Congress (he typically testifies in mid-February).
2
Seckie was a typical American teenage boy growing up in Minnesota. He liked girls, videogames and staying out late with friends. His father didn’t like any of it and took drastic measures.
Brian Deese, director of the White House’s National Economic Council, plans to leave his post after two years at the end of February, the White House said Thursday
1
2
1
“Mrs. Feinstein is 89 years old and has faced questions about whether she is still up to serving in the Senate. She has indicated she will make a decision later this year.”
This proposal by hedge-funder Ken Griffin to relocate a historic Miami home reminds me of the time Winter Park, Fla. moved , which seems like more notable structure, architecturally
wsj.com/articles/ken-g via
Sometimes Washington struggles to spend money. In this case, a $10 billion pot of money to help struggling homeowners.
Powell on the debt limit:
"There's only one way forward here and that is for Congress to raise the debt ceiling...No one should assume the Fed can protect the economy from the consequences of failing to act in a timely manner."
2
10
25
The Fed approved a quarter-percentage-point interest rate increase and signaled plans to raise rates again next month to continue lowering inflation.
2
Banks say an $8 late-fee cap will backfire because it isn’t high enough to dissuade people from falling behind. “It could increase the number of late payments, which harms the credit worthiness of the consumer."
2
1
The Cfpb will propose a rule to cut credit card late fees.
Love this visual look back✈️:
The Boeing 747 made long-haul travel affordable for the middle class decades ago and for many symbolizes the golden age of air travel. Here is a look back at the history of the jumbo jet
3
6
GOP leaders are working to garner enough support to remove Ilhan Omar from the Foreign Affairs Committee over past comments criticized as anti-Semitic. At least three GOPers have said they oppose such a move, which would require a full House vote.
Why did Alameda Research invest in a tiny bank in Washington state? Turns out FTX saw an opportunity to offer crypto-yield products without SEC registration. More about the weird saga of Moonstone, with and
2
5
12
When a one-time TV and film producer’s company bought Farmington State Bank, it got a name change and a new shareholder: Sam Bankman-Fried’s Alameda Research
1
1
Late to this but taxpayers are now backstopping crypto banks. Seems far from the mission of the Federal Home Loan Banks when they were created during the Depression to support mortgage lending at firms without access to cheap liquidity from the Fed.
1
4
D.C. man charged with killing 13-year-old he said was breaking into cars.
The alleged shooter spent his whole career organizing activities to keep DC teens out of trouble.
"The Wall Street Journal reported that [Tesla's] price cuts have angered some customers who missed out by ordering too early."
1
Big banks don't usually get below satisfactory grades on their CRA exams. When they do, they never have them for more than one testing cycle... until now.
received a "needs to improve" rating twice in a row, both driven by consumer violations.
7
9
16
Americans are tiptoeing back into the mortgage market after interest rates fell from their highest level in decades.
1
President Biden is considering Fed Vice Chair Lael Brainard as the next head of the National Economic Council
2
3
Me Taxpayer. You Spouse. Why do men almost always go first on the joint tax return? Even Kamala Harris goes second to the Second Gentleman.
1
We’re baking the most passive-aggressive cupcakes, if you even care
1
Important policy speech, but not clear what’s to come. Beyond big-regional resolvability standards, tougher supervisory action on case-by-case? “Transparent” standards per speech? Inter-agency guidance?
Quote Tweet
Big banks might need to be broken up if they become too big to manage and are unable to fix significant regulatory lapses, a top federal banking regulator said Tuesday.
(Incidentally, my wife is 1 of 4 siblings and I think her family is too big to manage) wsj.com/articles/too-b
1
1
1
Big banks might need to be broken up if they become too big to manage and are unable to fix significant regulatory lapses, a top federal banking regulator said Tuesday.
(Incidentally, my wife is 1 of 4 siblings and I think her family is too big to manage)
3
6
What did Fed officials say behind closed doors in 2011 about what they'd do if Congress failed to raise debt limit? From FOMC transcripts.
nytimes.com/2023/01/11/us/
12
21
The FTC’s plan to ban noncompete clauses shifts focus to deferred pay, nondisclosure agreements
1
Central-bank digital currencies could lead to profound changes in the most basic activity of any banking system: making and distributing money
1
2
2
New: a CFPB crackdown on remittance costs. “We continue to see a lack of transparency about fees, exchange rates, and taxes, which comprise the true cost to consumers of sending money abroad," CFPB director told .
2
3
House Republicans are gearing up for a tense intraparty fight, with factions ready to face off over where and how deeply to propose cutting federal spending
2
1
“The leak came amid rumors that Chief Justice Roberts was seeking to persuade some members of the court’s conservative majority to join him in a half-step that would partly curb access to abortion, rather than fully eliminating the right…”
2
Treasury Secretary Janet Yellen called on Congress to raise the debt ceiling as soon as possible, warning that the government could become unable to pay its bills after early June.
The Fed transferred $76 billion in weekly earnings to the Treasury until last September. Since then, it has racked up $18.8 billion in losses.
1
The popularity of “Yellowstone” means cowboy couture is cool, even for suburbanites headed to the office.
1
A snarkier headline writer might call this story: "Wells Fargo can't even manage to wind down its own business"
6
5
Big banks will report earnings this week. explains what to watch for and how bank earnings are an indicator of the economy’s health. #WSJWhatsNow on.wsj.com/3vSSaO2
7
14
30
FTX Arena joins the long list of stadium naming rights deals gone bad, including some in south Florida. Remember Pro Player stadium, after an underwear manufacturer whose elastic snapped?
4
1
Janet Yellen told Biden late last year she planned to stay as Treasury secretary and the president welcomed the decision.
2
Mr. Dimon told the Fox Business channel Tuesday morning that the central bank should go to the 5% rate and then take a pause. He said that would let bankers and economists see how the economy is reacting and if inflation is easing.
1
4