The Federal Reserve Bank of Philadelphia is hosting a three-day conference in Baltimore for more than 500 government planners, bankers and nonprofit leaders to study the city and its neighborhood transformations and economic inclusion efforts.
What should the little investor do when a bleary-eyed floor trader says “We’re all freaking out, man”? Well, first thing: Don’t panic. Don’t freak out. But do consider what is driving these markets, and has been for a long time now.
Janet Yellen did a good job managing tensions as Fed leader. Jerome Powell may or may not continue along her path. If taxes and Fed policy both end up favoring the wealthy, we may be starting down a road to high-tech feudalism. Do we really want to go there?
The president of the Federal Reserve Bank of Richmond said at a speech in Baltimore Wednesday that the central bank's most important charge is to manage inflation, arguing that its abilities to affect real economic activity in other ways are limited or overstep its authority.
The world's economy has become a hothouse. Growth in a hothouse is artificial, inorganic and unsustainable. People all over the world are suffering economically because the largest economies have created an artificial environment. Their tools are gradual inflation and leveraged restructuring, much of which has been fueled by massive infusions of monetary "reserves" by the central banks.
Homebuyers with an eye on rising interest rates last month helped make the most active December for the Baltimore region's housing market since 2005, as the Federal Reserve enacted the first of several anticipated interest rate hikes.
As the Department of Labor on Friday reported another strong month of job gains, the president of the Federal Reserve Bank of Richmond said that the Maryland economy is also rebounding, joining the national economic expansion that prompted the bank to raise interest rates last month.
While those in the financial industry say that the interest rate increase the Federal Reserve announced last week – a quarter of a percentage point – might not matter much, next year and the year after could be a different story.
Since 2008, the Federal Reserve has kept the federal funds rate — the banks' overnight borrowing rate — near zero. Now more confident about prospects for growth and inflation, policymakers are preparing to raise those short-term rates. Higher borrowing costs for banks can cause mortgage rates to jump, jobs to become scarcer and stock to tumble — but not always. Here are five things you need to know before the hike.
The Federal Reserve will announce this week whether it will raise interest rates for the first time in nearly a decade — a highly anticipated decision that has implications for global financial markets and household budgets.
It was a typical winter morning on the Twitter feed of Eastern Shore television station WBOC: a stream of messages about snowfall and a reminder to download the station's weather app for the latest updates.
It is wishful thinking to believe that the renewal of diplomatic relations with Cuba will lead to removal of the embargo. Only Congress can suspend the Helms-Burton Act — a law that requires a transition to democracy in Cuba, restitution of confiscated property of U.S. citizens and the absence from power of both Castro brothers.
2015 -- the far-away year Marty McFly visits in the 1980s classic Back to the Future -- is shaping up, ironically, to be a year when the familiar reasserts itself. Such mainstays as the Bush-versus-Clinton dynastic feud, the Star Wars saga, interest rates, U.S. power around the world and the telephone all are poised to make a comeback this year.
Repeatedly, Fed policymakers have been too optimistic in their forecasts and were forced to delay ending the Fed's purchases or long-term bonds, and now the same may prove true for raising ultra-low interest rates. Rates need to go up for both economic and political reasons — the sooner the better.
With volatility in the stock market shaking up investors, Jonathan Murray, a financial adviser at Hunt Valley-based UBS Financial Services, says people should keep a long-term outlook and accept such corrections as normal.
More than five years into the economic recovery, many households in Maryland still aren't feeling the lift. Overall personal income — which includes wages, investment income and payments from programs such as Social Security — grew an estimated 1 percent in the second quarter of 2014 in Maryland, compared to 2.5 percent in the U.S. as a whole.