The Key Bridge was hit by a ship and collapsed on March 26, 2024. The Washington Post | The Washington Post | Getty Images Six construction workers were presumed dead on Wednesday after a massive cargo ship struck the Francis Scott Key Bridge in Baltimore, causing it to partially collapse into the Patapsco River. The … Read more
U.S. Treasury Secretary Janet Yellen testifies during a hearing before the Financial Services and General Government Subcommittee of the House Appropriations Committee at Rayburn House Office Building on Capitol Hill on March 21, 2024 in Washington, DC. Alex Wong | Getty Images Treasury Secretary Janet Yellen on Wednesday warned that China is treating the global … Read more
Federal Reserve Bank Chair Jerome Powell speaks during a news conference at the bank’s William McChesney Martin building on March 20, 2024 in Washington, DC. Chip Somodevilla | Getty Images Slowly but surely, recessionary talk is dying down and confidence in the Federal Reserve is picking up. Last week, the central bank held its benchmark … Read more
Containers are loaded from freight trains onto trucks. Picture Alliance | Picture Alliance | Getty Images A logistics strategy called transloading, used by trucking companies during the pandemic to ease the container backlog, is increasing in popularity again after U.S. West Coast ports have started to receive higher volumes of containers that are being diverted … Read more
Donald Trump likes to say he created the strongest U.S. economy in history. But the centerpiece of his plans for a second term — tariffs on imported goods, especially those from China — runs the risk of bringing the U.S.′ currently robust economy to a screeching halt, and possibly the world’s, as well. Despite warnings … Read more
Car insurance is getting more expensive. The average annual premium for full coverage auto insurance in the U.S. rose to $2,543 in 2024 — up 26% from the previous year, according to Bankrate. Factors such as longer repair times and more expensive rental car costs are resulting in rising prices, according to a report by … Read more
A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. The U.S. has rapidly overwhelmed China as the world’s top spot for millionaires and billionaires, according a new report. There are now … Read more
U.S. Federal Reserve Chair Jerome Powell holds a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., March 20, 2024. Elizabeth Frantz | Reuters Central banks around the world reached a pivotal point this week, with Switzerland becoming the first major economy to cut interest … Read more
U.S. commuters. Caroline Purser | The Image Bank | Getty Images The recent influx of immigration into the U.S. is helping to bolster the economy despite a raft of global challenges, according to Joyce Chang, chair of global research at JPMorgan. The U.S. Federal Reserve on Wednesday raised its U.S. GDP growth projection to 2.1% … Read more
U.S. Treasury Secretary Janet Yellen testifies before a Senate Finance Committee hearing on the 2025 budget on Capitol Hill in Washington, U.S., March 21, 2024. Elizabeth Frantz | Reuters WASHINGTON — Treasury Secretary Janet Yellen on Thursday defended President Joe Biden’s 2025 fiscal budget proposal as Republican senators said they feared taxes would rise for the … Read more
