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Federal Reserve

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
Obituaries
'Tiny Bundle Of Happiness': Mahwah Mom Struck By Truck Will Be Laid To Rest (TRIBUTE) 'Tiny Bundle Of Happiness': Mahwah Mom Struck By Truck Will Be Laid To Rest (TRIBUTE)
'Tiny Bundle Of Happiness': Mahwah Mom Struck By Truck Will Be Laid To Rest (Tribute) 𝗥𝗘𝗤𝗨𝗜𝗘𝗦𝗖𝗔𝗧 𝗜𝗡 𝗣𝗔𝗖𝗘: A funeral Mass is scheduled this Friday for a Mahwah mom who died of injuries she suffered when she was struck by a pickup truck last week outside her job at the Federal Reserve in East Rutherford. Visitation for the family of Belina Lim Ang will be from 10 a.m. to noon at St. Gabriel the Archangel Roman Catholic Church on East Saddle River Road in Saddle River on Feb. 9. The Mass follows. In an exquisite tribute, Ang's husband Takis and their children Daphne and George describe her as a "tiny bundle of happiness" with a "tenacity and strength of will matched only b…

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by Jerry DeMarco
Police & Fire
Dedicated Mom Clinging To Life After Horrific Crash Outside Work, Mahwah Councilwoman Says Dedicated Mom Clinging To Life After Horrific Crash Outside Work, Mahwah Councilwoman Says
Dedicated Mom Clinging To Life After Horrific Crash Outside Work, Mahwah Councilwoman Says 𝗨𝗣𝗗𝗔𝗧𝗘: A funeral Mass is scheduled this Friday for a Mahwah mom who died of injuries she suffered when she was struck by a pickup truck last week outside her job at the Federal Reserve in East Rutherford. Visitation for the family of Belina Lim Ang will be from 10 a.m. to noon at St. Gabriel the Archangel Roman Catholic Church on East Saddle River Road in Saddle River on Feb. 9. The Mass follows. In an exquisite tribute, Ang's husband Takis, and their children Daphne and George describe her as a "tiny bundle of happiness" with a "tenacity and strength of will matched only by her undeniable…

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by Jerry DeMarco
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