Should the US Securities and Exchange Commission approve an exchange-traded fund focused on the spot market for Bitcoin? The question has yet again gained relevance, thanks to the District of Columbia Court of Appeals, which last week reversed the SEC’s decision to reject a Bitcoin ETF proposed by Grayscale Investments.
Every year, millions of Americans send their hard-earned money to life insurance companies, in return for a promise that it will grow and provide them with regular income in old age.
Where is the line between selling a financial product and providing investment advice? That question is at the heart of a debate over a new proposal that aims to protect Americans’ retirement savings.
For years, Americans have been giving their banking data to financial apps such as Venmo, YNAB and Rocket Mortgage. And for years, banks have been trying to figure out how to deal with the security risks. A new proposal from the Consumer Financial Protection Bureau suggests a better way.
Washington seems determined to ignore the country’s rapidly worsening fiscal picture, but sooner or later policymakers will be forced to pay attention. When they do, they’ll find that changes to Social Security are unavoidable.
In the fiscal year that just ended, the US government borrowed $1.7 trillion, more than 6% of gross domestic product. Bear in mind, that was with an economy running hot, with high inflation and more than full employment.
The $25.8 trillion market for US Treasury debt is like the circulatory system for the world’s financial markets — everything else relies on it. In recent years blockages have occasionally formed, and central banks have had to step in to restore the money flow.
Why exactly is Federal Trade Commission Chair Lina Khan antagonizing Amazon.com Inc., of all companies?
If a teacher, electrician or autoworker buys a stock or a share in a mutual fund, the Securities and Exchange Commission aims to ensure they’re investing on a level playing field.
For banks in 2023, one message is coming through clearly: Scale is good.
Two essential questions are facing the US economy right now: whether the Federal Reserve’s next change in its policy rate will be a cut or an increase, and whether the central bank’s inflation target of 2% needs to change.
President Joe Biden and his team insist that “Bidenomics” — a term they’ve embraced — is more than a mere bundle of policy initiatives.
At 1,087 pages, a recent proposal to change capital rules would surely make life more complicated for big US banks. But will it make them safer?
Unpacking the details of last week’s consumer price index report, the news was good: Inflationary pressure continues to slowly subside, while an economic “soft landing” — in which the Federal Reserve is able to stabilize prices without causing a recession — is starting to look more realistic.
The reaction to Fitch Ratings’ recent downgrading of US government debt was more revealing than the announcement itself. Citing concerns about America’s long-term fiscal position and the risk that Washington’s political dysfunction could make matters worse, the company marked US debt down from AAA to AA+.
The Fed needs to resolve this disagreement — by making clear that it’s committed to getting inflation all the way back down to the 2% target.
When New York Governor Kathy Hochul introduced a plan to build 800,000 housing units over the next decade, opponents immediately conjured up worst-case scenarios.
Money is getting faster. Regulators need to adapt.
The ruling is a political defeat for the White House and a disappointment for millions of student-loan borrowers. It has also spared the country from the worst consequences of a misguided policy.
Russian President Vladimir Putin has faced the biggest threat his regime has confronted in more than two decades in power. For now.
The Bank of England surprised financial markets last week by raising its policy rate by half a percentage point instead of the expected quarter. The bigger surprise was that so many investors and analysts were surprised.
Normally, a consensus between Democrats and Republicans in Washington is a heartening sign. Not so when it comes to populist interventions in the banking system.
Politicians of both parties should welcome this trend and build on it — not least, by shifting resources from traditional college pathways and toward work-based alternatives that provide students with real-world skills.
