How one Ohio city is tackling the ‘uniquely American problem’ of medical debt

As lawmakers were being elected and constituents were voting on key ballot measures this month, one Ohio city council passed a measure with the potential to make an enormous financial impact on its community: buying out and relieving the medical debt of its residents. The Toledo City Council voted 7-5 in early November to use $800,000 of funds from the … Read more

U.S. stocks rise as traders digest economic data, await Fed minutes

U.S. stock indexes rose on Wednesday, as investors digested a batch of economic data and awaited the latest minutes of the Federal Open Market Committee meeting. How are stock indexes trading? The Dow Jones Industrial Average DJIA, +0.46%  rose 136 points, or 0.4% to 34,233 The S&P 500 SPX, +0.61%  gained 18 points, or 0.5% … Read more

Investors may be whistling past the graveyard of a recession with latest rally in stocks

Investors feeling giddy about last week’s sharp rally for stocks might want to give a listen to Tom Waits’ song, “Whistlin’ Past the Graveyard” from 1978, to sober up for the dangers that still lurk ahead. The surge in stocks catapulted the S&P 500 index SPX, +0.92% almost back to the 4,000 mark on Friday, … Read more

Macron backs climate cash trillions – POLITICO

Press play to listen to this article SHARM EL-SHEIKH, Egypt — Climate change talks have long been stymied over demands for transfers of billions of dollars — on Monday, French President Emmanuel Macron backed a new push for the conversation to be measured in trillions. Speaking at the COP27 climate summit in Sharm El-Sheikh, Egypt, … Read more

Where Britain went wrong – POLITICO

Press play to listen to this article LIVERPOOL, England — On the long picket line outside the gates of Liverpool’s Peel Port, rain-soaked dock workers warm themselves with cups of tea as they listen to 1980s pop. Dozens of buses, cars and trucks honk in solidarity as they pass. Dockers’ strikes are not new to … Read more

Fed says it may hike interest rates at slower pace, but destination is now 5% or higher

The Federal Reserve on Wednesday approved the fourth straight jumbo increase in a key U.S. interest rate and signaled rates are likely to go higher than previously forecast. News of a higher terminal rate overshadowed more dovish comments from the central bank statement that it might move more slowly to better evaluate the effects on … Read more

Another jumbo Fed rate hike is expected this week — and then life gets difficult for Powell

First the easy part. Economists widely expect Federal Reserve monetary-policy makers to approve a fourth straight jumbo interest-rate rise at its meeting this week. A hike of three-quarters of a percentage point would bring the central bank’s benchmark rate to a level of 3.75%- 4%. “The November decision is a lock. Well, I would be … Read more

Kanye West could face financial crisis within months

Kanye West could be just months away from financial catastrophe, Page Six is told. As the rapper is dropped by corporations and condemned by industry figures, sources say that while he has a large stash of cash, he also has vast expenses and could be in trouble soon if he doesn’t find a way to … Read more

Municipal Bonds Are Offering the Yields You’re Looking For. Here’s Where to Look.

A historic rout in the bond market this year has resulted in the highest yields on municipal bonds in 15 years—and what looks like an excellent buying opportunity. At midweek, the muni market, as measured by the Bloomberg Municipal Bond Index, was down 13%, its worst showing in at least 40 years, as the yield … Read more

‘From Bambi to Godzilla.’ Strategist David Rosenberg skewers the Federal Reserve as he sees a 30% hit to home prices and the S&P 500 returning to an early 2020 low

The last time David Rosenberg shared his outlook for the U.S. stock market and the economy with MarketWatch, in late May, it was depressing enough. Rosenberg is the widely followed president and chief economist and strategist of Toronto-based Rosenberg Research & Associates Inc. His sobering outlook last May echoed his thinking from March 2022, when he … Read more