Opinion: Bernie Sanders and Elizabeth Warren’s bold tax hike to shore up Social Security
Elizabeth Warren and Bernie Sanders want to shore up Social Security by raising the top rate of income tax by a third, and the top rate of capital-gains tax by more than a half. The Democratic senators have made the proposals in a new bill that would balance Social Security’s books, and expand benefits. It […]
Debt-Ceiling Standoff Prompts Backup Plans, but They Face Hurdles Too: WSJ
Potential alternatives for the U.S. to avoid default—from simply ignoring it, to minting a trillion-dollar coin—are met with skepticism. Source link
More Auto Payments Are Late, Exposing Cracks in Consumer Credit
MarketsFinanceBorrowers with low credit scores fall behind in numbers unseen since 2010 Source link
Fed’s Inflation Fight Pushes Up Cost of U.S. Debt
EconomyU.S. EconomyRepublicans and Democrats disagree on whether debt load is manageable Source link
Steepest Home-Price Declines in Fourth Quarter Were in the West: WSJ
U.S. home prices rose in the fourth quarter from a year earlier, but once-booming West Coast markets were among a growing number of metro areas to post price declines. Source link
Deutsche Bank says there’s a 90% chance of recession. But, without one, S&P 500 can get to 5,000.
One of Wall Street’s most pessimistic banks is conceding that the economic outlook has improved. But Deutsche Bank, in a new update of its house view, still says there’s a 90% chance of a U.S. recession this year. It says that while there’s evidence inflation has peaked, it’s still well above central-bank targets and likely […]
Fed Officials Signal Higher Interest Rates Will Be Needed to Contain Inflation
A senior Federal Reserve official said the economy will need higher borrowing costs for a few years to bring down inflation and prevent price pressures from strengthening. “We still have some work to do to get interest rates in the right place,” said New York Fed President John Williams at The Wall Street Journal’s CFO […]
Home-Buying Companies Stuck With Hundreds of Houses as Demand Slows
Ribbon Home Inc. had a fast-growing business during the housing boom. The New York City-based startup purchased homes with cash on behalf of buyers. Then it sold the homes to the buyers at the same price, plus a fee, once the buyers got a mortgage. This approach made their clients’ offers more appealing, since sellers often […]
Chinese Consumers Hoard Cash After Confidence Takes a Hit
MarketsEconomists believe spending will be slow to bounce back after the end of zero-Covid Source link
China Has More ICBM Launchers Than U.S., American Military Reports
WSJ News ExclusiveChinaWhile the U.S. leads in intercontinental missiles and warheads, China’s gains are fueling debate in Congress Source link