J.P. Morgan has signed a five-year contract with the U.S. treasury to audit the approximately 1.7 billion payments government agencies make each year to ensure that the payments are accurate and genuine, Wall Street on Parade (WSOP) reported.
Tag: oct 24 2023
Post
EMPLOYER HEALTH INSURANCE COSTS RISE FASTEST IN 12 YEARS
The cost of employer-sponsored health insurance coverage is rising an average of 7 percent next year to about $24,000 per employee, the sharpest yearly increase since 2011, according to health care research organization KFF.
Post
HOME SALES FALL TO SLOWEST PACE SINCE 2010
In September, home sales fell 2 percent from August and reached their lowest annual pace since October 2010, sunk by steadily rising interest rates through this year. Sales for the month declined 15.4 percent from the same month in 2022.
Post
HOME FORECLOSURES INCREASE 28 PERCENT IN THIRD QUARTER
The number of home foreclosures across the U.S. grew 28 percent in this year’s third quarter, year over year, reaching 124,539, real estate research service ATTOM reported.
Post
LATE LOAN PAYMENTS GROWING IN NUMBER
Persons who borrowed during and after the COVID War are now falling behind in their payments “at unusually high rates,” according to the Financial Times.
Post
RISING BOND YIELDS EVENTUALLY WILL SWAMP CONSUMERS, BLACKSTONE CHIEF WARNS
Rising yields on the 10-year U.S. treasury bond, now brushing up against 5 percent, will eventually crimp consumer spending and slow the economy, Jonathan Gray, president of Blackstone Group, the world’s largest asset manager, said last week in a Financial Times interview.
Post
CONFERENCE BOARD’S ECONOMIC INDICATOR SHOWS RECESSION AHEAD
The Conference Board’s Leading Economic Index, which tracks business cycles, fell 0.7 percent to 104.7 in September, its 18th month in a row showing declining economic activity.
Post
TOP CDC JOURNAL’S TAKE ON MASK USE CHALLENGED
The authors of a recent article accepted in a top medical journal took issue with claims that the Centers for Disease Control and Prevention made about mask use and their effectiveness in preventing the spread of COVID-19.
Post
WORRIES INCREASE OVER U.S. DEBT, BUDGET CRISIS
Uncertainty about whether the U.S. Congress will raise the debt limit has helped push bond prices to multi-decade lows and given the U.S. Federal Reserve second thoughts about raising interest rates again when it meets next week, Bloomberg reported.
Post
THIS YEAR’S FEDERAL DEFICIT PASSES $1.7 TRILLION
In the U.S. government’s current fiscal year, the annual budget deficit roughly doubled to $2 trillion, even though the treasury reported the shortfall as $1.7 trillion, The New York Times reported.