Headlines: March 22, 2023, Wednesday
– 8 celebrities were charged by the SEC for improperly supporting cryptocurrencies, and the founder was accused of fraud.
– The US unemployment rate could rise above 4.5 % this year.
– How would a Fed’s 25 basis point interest rate increase affect loans?
– Following Credit Suisse’s recovery, bank stocks remain stable.
– Central banks state they are taking “synchronized action to improve cashflow provision.”
– Despite the uncertainty, the Fed plans to increase interest rates weekly.
– First Republic Bank is struggling to survive and is thinking about selling.
– Wall Street issues a new recession warning.
– Why could the Social Security COLA be significantly lower this year or next?
– Some US states are distributing $1,000 in winter assistance.
2023 tax season:
What tax credits, both refundable and non-refundable, are accessible to taxpayers?
– How to receive the Mortgage Interest Tax Credit worth up to $2,000.
How much will the US unemployment rate rise in 2023?
In its quarterly economic prospects and estimates, the Federal Reserve’s Federal Open Market Committee predicted that the average unemployment rate would reach 4.5 % in 2023.
Furthermore, it is unclear from the Fed’s estimates how rate rises will affect these different categories by way of higher unemployment rates. For individuals who appreciate mainstream credentials, Nobel Prize-winning economist Joseph Stiglitz has cautioned that provided the Fed’s interest rate set – up, teenage men of color, for whom the unemployment rate has become more significant than the national average, might experience an increase in unemployment somewhere between 15 and 20 %.
