More than half a dozen house boats momentarily caught fire at a popular boating destination on the Utah-Arizona line on Friday, igniting while tourists and jet skiers stood by before the flames were extinguished. The decks of boats docked at Wahweap Marina on Lake Powell smoldered as black plumes of smoke wafted into the air…

Commentary Federal Reserve (Fed) Chairman Jerome Powell recently stepped back from the cut and thrust of immediate policy matters to offer insight into Fed priorities—a review of what events and guidelines will prompt future decisions. Some of what Powell said provided comfort. Other things were not so reassuring. And still, others raised fundamental questions about…

Led by U.S. Treasury Secretary Janet Yellen, a consortium of top financial regulators voted on Friday to issue proposed guidelines designed to enhance the stability of the financial system in the wake of one of the most significant shocks since the 2008 financial crisis. The new guidelines put forth by Yellen and the Financial Stability Oversight…

Federal Reserve Chair Jerome Powell had a clear message on Wednesday: as “gratifying” as it is that inflation has begun to slow, the central bank is nowhere near to reversing course or declaring victory. “It’s going to take some time” for disinflation to spread through the economy, Powell said in a news conference following the…

Two months before he became Federal Reserve chair, Jerome Powell urged a gradual approach to raising interest rates so that the U.S. central bank could more adequately assess the true strength of the labor market against tepid inflation, foreshadowing a cautiousness on policy that would persist under his leadership until the coronavirus crisis and its…

News Analysis U.S. Federal Reserve chair Jerome Powell spoke bluntly at a highly anticipated annual conference to dispel the assumption that because elevated inflation may have peaked, the Fed could soon pivot from continuing to aggressively hike interest rates. Canada is in the same boat as the United States, and Powell’s words served as a…

Federal Reserve Chair Jerome Powell delivers the keynote address at the annual Jackson Hole symposium on monetary policy. His remarks will shape expectations for how much the Fed will raise interest rates at its next meeting in September and beyond. * Click the “Save” button below the video to access it later on “My List.”…

Commentary Despite all the fanfare and cheerleading you hear in the MSFM, the recent bounce in equity prices has just been a rather pedestrian bear market rally. Bull markets are not engendered by a faltering global economy, very high rates of inflation, and the most hawkish global central bank tightening cycle in history. In spite…

By Jeff Ostrowski From Bankrate.com The fate of the housing boom is on the minds of both homeowners and homebuyers these days. Will record home values lead to a crash reminiscent of the one that made the Great Recession so painful? Or will prices simply take a breather from their torrid pace of appreciation? No…

Commentary The US personal consumption expenditure (PCE) based inflation released last week eased a bit from 6.6% in March to 6.3% in April. Thanks to the higher base in April 2021 than March 2021, larger denominator makes year-over-year growth lower. Analysts claim that inflation had peaked. But this number is subject to base effect and…