Armored truck heist in Chicago Loop ends with suspect shot and cash recovered
CHICAGO – A 23-year-old man was charged in federal court Friday after allegedly attacking an armored truck driver and stealing a bag of cash during a brazen daylight robbery in the Loop.…
K.C. Fed’s George: Balance sheet debate needs to account for bond inversion risk
(Reuters) – The brief inversion of the U.S. bond yield curve on Tuesday is a cautionary sign for the Federal Reserve that may need to be factored into coming debates on management…
Feds Create New Jersey Civil Rights Division, Nation’s First
NEWARK, NJ – The Department of Justice is creating a criminal civil rights division in New Jersey, the first in the nation to ensure civil rights violations are prosecuted and handled properly.…
Fed’s Waller says he sees no need for U.S. central bank digital currency
– U.S. Federal Reserve Governor Christopher Waller said on Friday he is not convinced of the need for a central bank digital currency, particularly for retail customers who already have access to…
Fed’s Mester calls for frontloading rate hikes, sees rise to 2.5% in 2022
By Ann Saphir – Cleveland Federal Reserve Bank President Loretta Mester on Tuesday said she would like to raise interest rates to about 2.5% by year end, with bigger rate hikes in…
Fed’s Williams: potential for stablecoins to be “very useful”
– A form of digital currency that is designed to have a stable price and is generally linked to a mainstream currency or something such as gold could prove beneficial if properly…
Fed’s rate path balances inflation fight and pandemic unknowns, Barkin says
By Howard Schneider BALTIMORE – The rate increases projected by Federal Reserve officials this week represented a “balancing act” between the need to begin normalizing monetary policy in the face of high…
Fed’s Waller says series of half point rate increases may be needed at coming meetings – CNBC
WASHINGTON – Federal Reserve Governor Chris Waller said economic risks around the war in Ukraine led him to vote in favor of a quarter percentage point rate increase at the Fed meeting…
Chinese spies stalked and harrassed Chinese nationals, U.S. citizens living in New York City, feds say
NEW YORK, NY – The secret police of the People’s Republic of China have had gents operating in the United States, targeting Chinese nationals and American citizens, the Department of Justice announced…
New Jersey defrauded Paycheck Protection Program out of $1.6 million, feds
EDISON, NJ – An Edison man has admitted to scamming the U.S. Government out of $1.6 million in COVID-19 relief funds, according to the U.S. Department of Justice, The DOJ said Jordan…
How the Fed’s rate hikes could affect U.S. consumers
By Jonnelle Marte – The Federal Reserve raised short-term interest rates on Wednesday by a quarter of a percentage point and signaled that it plans to lift them further in the coming…
Inflation surge, war cloud Fed’s interest rate trajectory
By Howard Schneider WASHINGTON – New economic projections from the Federal Reserve this week will show how far and how fast policymakers see interest rates rising this year, in a first test…
Inflation-wary bond markets focused on Fed’s tricky balancing act
By Karen Brettell – With the Federal Reserve almost certain to hike interest rates this week for the first time in more than three years, investors will be focused on how it…
A thaw in U.S. jobs market could be good news for Fed’s inflation battle
By Howard Schneider – It was just a hint of something good on the horizon, Richmond Federal Reserve President Thomas Barkin said this week, but in his recent conversations with business officials…
NY Fed’s Williams says U.S. economy not in stagflation scenario
By Jonnelle Marte – Russia’s invasion of Ukraine adds uncertainty to the U.S. economic outlook and may boost near-term inflation, but household savings and strong economic growth should help limit the damage,…
New York Fed’s Logan says staff will carefully monitor money markets
By Jonnelle Marte – The Federal Reserve’s nearly $9 trillion balance sheet has more room to decline than it did the last time the central bank shrank its holdings and policymakers will…
Feds File Lawsuit Against Northeast Philadelphia Pharmacy for Illegal Distribution of Opioids
PHILADELPHIA, PA – Pharmacy workers at a Northeast Philadelphia pharmacy have been charged for illegally dispensing opioids to individuals who should not have been sold the medication. According to United States Attorney…
Feds say Pennsylvania Man Illegally Represented Himself as Immigration Attorney to Commit Fraud
CAMDEN, N.J. – A Philadelphia man has been charged for falsely filing immigration documents and identity theft against victims who thought he was an immigration attorney. The federal government alleges Luc Fikiri…
Fed’s Barkin says sustained high oil prices could ‘dampen’ consumption, growth
COLONIAL HEIGHTS, Va. – If the conflict in Ukraine leads to sustained high oil prices it could hit U.S. consumer spending and pose a possible risk to U.S. economic growth, said Richmond…
Fed’s Mester says situation in Ukraine will be considered for monetary policy
By Jonnelle Marte – The conflict unfolding in Ukraine could have an effect on the U.S. economy in the medium term and should be factored in as Federal Reserve policymakers remove accommodation,…
Fed’s Daly: balance sheet reduction should be gradual, predictable
– The Federal Reserve should reduce its balance sheet earlier in the policy tightening cycle and more rapidly than the last time it did so, San Francisco Federal Reserve Bank President Mary…
Fed’s Barkin: Ukraine events not likely to change case for U.S. rate hikes
WASHINGTON – The Russian invasion of Ukraine probably won’t change the “underyling logic” behind the Federal Reserve’s plans to raise interest rates, but the impact on global markets and commodity prices in…
Fed’s Bowman: too soon to tell if half percentage point rate hike needed in March
– It is too early to know if the Federal Reserve will need to start its tightening cycle at its next policy meeting in March with a half percentage point rate rise,…
Feds Indict Two Men For Robbery Spree Targeting Latino Businesses in North Philadelphia Late Last Year
PHILADELPHIA – United States Attorney Jennifer Arbittier Williams announced that Omar White-Davis, 28, of Philadelphia, PA, and Acia Moore, 20, also of Philadelphia, PA, were charged by Indictment with multiple counts of…
Fed’s Brainard sees case for U.S. central bank digital currency
– Federal Reserve Board Governor Lael Brainard on Friday laid out a case for the role a U.S. central bank digital currency could play in bolstering financial stability as the use of…
NY Fed’s Williams says central bank can manage soft landing for economy
NEW YORK – Supply chain issues may gradually recede over time, easing some inflationary pressures and helping the Federal Reserve achieve its goal of controlling inflation without sparking a recession, New York…
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