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Real Estate
Home Sales Plummet, Prices Hit New January Record: How Tariffs Could Drive Costs Higher Home Sales Plummet, Prices Hit New January Record: How Tariffs Could Drive Costs Higher
Home Sales Plummet, Prices Hit New January Record: How Tariffs Could Drive Costs Higher Home sales fell in January as prices continued soaring, showing the financial strains potential buyers are facing. Existing-home sales declined 4.9 percent from December 2024 to a seasonally adjusted annual rate of 4.08 million in January, the National Association of Realtors (NAR) said in a news release on Friday, Feb. 21. The median home price climbed 4.8 percent year-over-year to $396,900, the highest amount ever in a month of January. In the Northeast, sales fell 5.7 percent from December to an annual rate of 500,000 homes, though they increased 4.2 percent from January 2024. The m…

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by Chris Spiker
Business
Inflation Climbs To Start 2025, Fueled By Dramatic Egg Price Jump, Fears Over Trump Policies Inflation Climbs To Start 2025, Fueled By Dramatic Egg Price Jump, Fears Over Trump Policies
Inflation Climbs To Start 2025, Fueled By Dramatic Egg Price Jump, Fears Over Trump Policies Inflation unexpectedly accelerated in the first month of 2025, adding political and economic pressure to President Donald Trump's campaign promise of immediate relief to high consumer prices. In January, overall inflation climbed 3.3 percent year-over-year for core items and 0.5 percent monthly, according to data from the Bureau of Labor Statistics released on Wednesday, Feb. 12. That ran slightly ahead of economists' prediction of 3.2 percent inflation, NBC News reported. Core items exclude notably volatile prices for food and energy. The Consumer Price Index (CPI) still inc…

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by Chris Spiker
News
Fed Pauses Interest Rate Cuts Despite Trump's Push For Immediate Reduction Fed Pauses Interest Rate Cuts Despite Trump's Push For Immediate Reduction
Fed Pauses Interest Rate Cuts Despite Trump's Push For Immediate Reduction The Federal Reserve kept its key interest rate in place, pausing further cuts and ignoring a demand by President Donald Trump to immediately drop rates. After three months of reductions, the Fed decided to keep the key interest rate target at 4.25 to 4.5 percent. The Fed announced the decision on Wednesday, Jan. 29, after its first meeting since President Trump returned to the White House. Chair Jerome Powell said the Fed is monitoring inflation and economic stability under the Trump administration. "We remain committed to supporting maximum employment, bringing inflation sustain…

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by Chris Spiker
Business
American Express To Pay $230M For Misleading Small Business Customers American Express To Pay $230M For Misleading Small Business Customers
American Express To Pay $230M For Misleading Small Business Customers American Express said it will pay $230 million to resolve federal investigations into deceptive sales tactics and recordkeeping violations involving small business credit card and wire transfer products. The credit card company agreed to pay a $108.7 million civil penalty, the Department of Justice said in a news release on Thursday, Jan. 16. The settlement resolved claims against American Express of deceptive marketing and "dummy" account information. American Express was accused of engaging in unlawful sales tactics and falsifying records between 2014 and 2021. "When financial companies …

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by Chris Spiker
News
Wall Street Investor With NJ Tie Predicts Economic Downfall Wall Street Investor With NJ Tie Predicts Economic Downfall
Wall Street Investor With NJ Tie Predicts Economic Downfall A Virginia-raised investor with a tie to New Jersey is going viral for his recent prediction on the status of the economy. “The economy is going to collapse,” Novogratz said in a Wednesday, June 15 interview with MarketWatch. “We are going to go into a really fast recession, and you can see that in lots of ways.” The Princeton University graduate's remarks came shortly before the Federal Reserve raised rates by 0.75 percent in an attempt to reduce inflation without going into a recession. Novogratz, CEO of cryptocurrency investment firm Galaxy Digital, cited layoffs in …

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by Nicole Acosta
Police & Fire
Israel’s Largest Bank Pays $900 Million In Offshore Tax Evasion Scheme, Soccer Payoffs Israel’s Largest Bank Pays $900 Million In Offshore Tax Evasion Scheme, Soccer Payoffs
Israel’s Largest Bank Pays $900 Million In Offshore Tax Evasion Scheme, Soccer Payoffs Israel’s largest bank and a Swiss subsidiary agreed in federal court in Manhattan on Thursday to pay $874.27 million to the U.S. Treasury, the Federal Reserve, and the New York State Department of Financial Services to settle offshore tax-evasion charges. At the same time, Bank Hapoalim B.M. and its wholly owned subsidiary, Hapoalim (Switzerland) Ltd., agreed to pay more than $30 million to the United States to resolve a federal investigation into their roles in laundering bribes and kickbacks to the world governing body for soccer. As part of the tax-evasion settlement, Bank Hapoalim B.M.&…

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by Jerry DeMarco