Welcome to The Hill’s Business & Economy newsletter {beacon} Business & Economy Business & Economy The Big Story Republicans, Democrats split at hearing over Starbucks Democrats went after former Starbucks CEO Howard Schultz during a Wednesday hearing on union-busting, while Republicans largely defended the executive. © AP Photo/J. Scott Applewhite Republicans have long attacked…
Author: Sylvan Lane
Latest bank bailouts rile student loan borrowers
Welcome to The Hill’s Business & Economy newsletter {beacon} Business & Economy Business & Economy The Big Story Student loan borrowers cry foul after latest bank bailouts Recent moves by the Biden administration and financial regulators to bail out Silicon Valley Bank (SVB) and Signature Bank are hitting a sore spot with some student…
Warren, Porter unveil bill to undo Trump-era Dodd-Frank rollback after Silicon Valley Bank collapse
Sen. Elizabeth Warren (D-Mass.) and Rep. Katie Porter (D-Calif.) have introduced a bill to repeal part of a Trump-era bank regulation rollback law in the wake of the collapse of Silicon Valley Bank. The bill, called the Secure Viable Banking Act, would put banks with at least $50 billion in assets back under strict Federal…
Fed’s fight against inflation back on track
Welcome to The Hill’s Business & Economy newsletter {beacon} Business & Economy Business & Economy The Big Story Fed’s fight against inflation back on track After one hot jobs report, two major bank failures and three days of fears about the financial system, the Federal Reserve’s battle against inflation is back on. © AP…
Back-to-back bank collapses stoke broader fears
Welcome to The Hill’s Business & Economy newsletter {beacon} Business & Economy Business & Economy The Big Story Washington reacts to New York, California bank failures President Biden on Monday sought to assure Americans that the banking system is on solid footing following the second and third-largest U.S. bank collapses in history. © AP…
Powell tells Congress to raise debt limit
Welcome to The Hill’s Business & Economy newsletter {beacon} Business & Economy Business & Economy The Big Story Powell urges lawmakers to raise the debt limit The Federal Reserve chairman told a House panel on Wednesday that the central bank wouldn’t be able to stop the economic disaster caused by lawmakers’ failure to raise…
Rail industry pushes back amid federal action
Welcome to The Hill’s Business & Economy newsletter {beacon} Business & Economy Business & Economy The Big Story Will Congress pass new railroad regulations? The railroad industry is pushing back on bipartisan legislation seeking to implement stricter regulations after the Feb. 3 East Palestine, Ohio, train derailment. © AP Photo/Gene J. Puskar The Railway…
US housing affordability hits new low
Welcome to The Hill’s Business & Economy newsletter {beacon} Business & Economy Business & Economy The Big Story Housing affordability at record low, report shows A new report from real estate brokerage Redfin shows housing affordability saw a sharp drop last year, as a combination of steep prices and high mortgage rates has priced…
Senators mull Social Security proposals
Welcome to The Hill’s Business & Economy newsletter {beacon} Business & Economy Business & Economy The Big Story Senators eye areas for agreement on Social Security A bipartisan group of senators is carefully carrying out talks to explore ways to extend the lifetime of Social Security. © Greg Nash Senators involved in the informal…
Supreme Court sets sights on consumer bureau
Welcome to The Hill’s Business & Economy newsletter {beacon} Business & Economy Business & Economy The Big Story Regulatory agency faces Supreme Court scrutiny The high court will hear a case that could unravel the Consumer Financial Protection Bureau (CFPB), the agency tasked with enforcing consumer protection laws. © AP Photo/Jacquelyn Martin…