Dec 01 WATCH: Commodity Futures Trading Commission chairman ask Congress to ‘move quickly’ on crypto bill By Associated Press The U.S. Commodity Futures Trading Commission (CFTC) chairman Rostin Behnam urged Congress"to move quickly" to put in place "guardrails" for digital assets following the collapse of cryptocurrency exchange FTX. Continue reading
Dec 01 Biden administration urges Senate to act amid looming rail worker strike By Josh Funk, Kevin Freking, Associated Press The Biden administration is saying the U.S. economy would face a severe economic shock if senators don't pass legislation this week to avert a freight rail worker strike. Continue reading
Dec 01 Average long-term U.S. mortgage rates fall for a third week in a row By Matt Ott, Associated Press The average long-term U.S. mortgage rate ticked down for the third week in a row and have fallen more than a half-point since hitting a 20-year high less than a month ago. Continue reading
Dec 01 Applications for jobless benefits fall, suggests labor market unaffected by interest rate hikes By Matt Ott, Associated Press The number of Americans applying for unemployment benefits came back down last week and continue to hover around levels suggesting the U.S. labor market has been largely unaffected by the Federal Reserve's aggressive interest rate hikes. Continue reading
Dec 01 Former FTX CEO Bankman-Fried says he didn’t ‘knowingly’ misuse customers’ funds By Ken Sweet, Associated Press The former CEO of the failed cryptocurrency exchange FTX says that he did not "knowingly" misuse customers' funds. Continue reading
Nov 30 Watch 7:37 Some economists concerned aggressive interest rate hikes do more harm than good By William Brangham The Federal Reserve has raised interest rates six times this year and Fed Chair Jay Powell suggested that a seventh hike, albeit a smaller one, is on the way next month. But some Democrats and economists worry the Fed hit… Continue watching
Nov 30 House votes to avert looming rail worker strike, impose deal on unions By Kevin Freking, Josh Funk, Associated Press Congress is moving urgently to head off the looming U.S. rail strike. The bill would bind companies and workers to a proposed settlement reached in September that failed to gain the support of all 12 unions involved. Continue reading
Nov 30 Why Congress is intervening in a labor dispute between railway companies and freight workers By Hope Yen, Josh Funk, Associated Press President Joe Biden is asking Congress to intervene to avert a potentially crippling freight rail strike before Christmas, even if it means handing a defeat to Democratic allies in the labor movement. Continue reading
Nov 30 What managers need to know about quiet firing By Casey Kuhn, Nicole Ellis Quiet firing is when a manager assigns an employee fewer responsibilities or otherwise neglects them in a passive attempt to get the employee to quit. Continue reading
Nov 30 U.S. economy grew 2.9 percent last quarter slightly beating expectations, revised data says By Paul Wiseman, Associated Press Last quarter’s rise in the U.S. gross domestic product, or the economy’s total output of goods and services, followed two straight quarters of contraction… Continue reading