Wall Street loves lower interest rates because they can relax the pressure on the economy and goose prices for all kinds of investments.
Business
Local, state and national business news from the Sun Journal.
Posted inBusiness, Nation / World
Experts can’t agree on Biden’s new student loan relief plan. What’s next.
Here’s a breakdown of the process and what happens now.
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Posted inBusiness, Maine, News
Another rate cut will further reduce electricity costs for CMP customers in 2024
A complicated formula drafted by federal and New England energy officials is behind the second announcement in as many weeks of an electricity rate cut.
Posted inBusiness, Nation / World, News
The racial homeownership gap is widening. New rules might make it worse.
Banks are facing tougher capital requirements, which will probably make mortgages pricier for cash-poor home buyers and hurt minority borrowers.
Posted inBusiness, Nation / World, News
Support for TikTok ban crumbles, even among Republicans
A new Pew survey suggests that the Republican-led push to ban the app will face a huge challenge in persuading voters, many of whom use the app themselves.
Posted inBusiness, Nation / World, News
Federal Reserve keeps key interest rate unchanged, foresees 3 rate cuts next year
It is the first time since inflation first spiked that the central bank has formally acknowledged progress in its fight against accelerating prices.
Posted inBusiness, Maine
Maine considering California-style incentives to encourage electric vehicle sales
While not as aggressive as California’s standard, Maine’s proposal would eventually require 82% of new vehicles sold to produce zero emissions.
Posted inBusiness
Tesla recalls nearly all vehicles sold in U.S. to fix Autopilot monitoring system
The recall covers models Y, S, 3 and X produced between Oct. 5, 2012, and Dec. 7 of this year.
Posted inBusiness
Fed enters last leg of inflation fight with little ‘pain’ so far
Federal Reserve Chair Jerome Powell has continued to indicate that further improvements to inflation may require the Fed to apply more downward pressure to the ‘demand side’ of the economy, which could result in more job losses than currently expected.
Posted inBusiness
Sheriff’s office says Tesla was running on Autopilot moments before tractor-trailer crash
With Autopilot, a Tesla can steer, accelerate and brake automatically in its lane, the website says.