Banking & Finance

The Federal Reserve will make only modest progress in its fight against inflation for the rest of this year, even while keeping its benchmark interest rate at a 16-year high, a group of business economists predict in a survey released this morning.

More than 4,500 donors pledged $1.28 million through 225GIVES, an annual fundraising event for Capital Region nonprofits that culminated in a 24-hour giving event May 4, the Capital Area United Way announced today. 

The state Senate passed a package of legislation Tuesday that would repeal Louisiana’s corporate franchise tax and offset lost tax revenue by slashing the Quality Jobs Program.

The members of the coalition, some of whom met last week, are opposed to busting the state’s constitutionally created spending cap for the current fiscal year and the next. They view this tax relief plan as a responsible alternative.

Raphael Bostic, president of the Federal Reserve Bank of Atlanta, said this morning that...

Companies are—for the first time this year—tabulating gains and losses in the stock awards that make up much of the pay packages for CEOs, The Wall Street Journal reports. 

The number of Americans filing for jobless claims last week rose to its highest level in a year-and-a-half, though the labor market remains healthy by historical standards.

Consumer prices in the U.S. rose again in April, and measures of underlying inflation stayed high, a sign that further declines in inflation are likely to be slow and bumpy.

Check fraud might seem old-fashioned in the digital era, but it’s on the rise as criminal gangs become increasingly sophisticated, according to The Wall Street Journal. 

The bankers surveyed said they expect to continue tightening credit standards for the rest of 2023