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Economy

Economy Continues Growing Slowly, According to Fed Report

The economy continued to grow at a modest-to-moderate pace across the country, according to data published yesterday by the Federal Reserve Board, which was gathered from the 12 different Federal Reserve Banks nationwide. The data, published in the Fed’s Beige Book report, indicated that consumer spending increased in most regions, …

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Higher Interest Rates Will Tamper Demand For Car Loans: Study

Researchers from the Federal Reserve Bank of New York have come out with a paper that projects the impact of rising interest rates on automobile loans. Not surprisingly, the researchers concluded that a 100-basis point rise in interest rates would severely dampen demand for car loans from consumers. With the …

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More Americans Stuck Earning Minimum Wage

People who take minimum wage jobs often do so with the expectation of working their way up the ladder, or using the experience to find better-paying jobs. But more and more, those who start working at minimum wage keep working there, according to an article on fivethirtyeight.com. Two decades ago, …

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Fed Bank Says More Research Into Payday Loans is Needed

The problem with payday loans isn’t the fees or the high interest rates, according to an article published on a blog maintained by the Federal Reserve Bank of New York. The problem is consumers who roll over one payday loan into the next. And before anyone should talk about reforming …

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Economy Continues Showing Signs of Growth: Report

Most sectors of the global and international economy continue to show positive signs, according to a monthly report released this morning by the Federal Reserve Bank of New York. Here in the United States, consumer spending continued to grow, inflation remained at lower-than-expected levels, while the unemployment rate held steady. As …

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Fed Survey Indicates Banks Worried About Higher Default Rates

Auto lenders appear to be tightening their credit underwriting standards on loans to prime and subprime borrowers, according to a survey of loan officers conducted by the Federal Reserve Board. The Fed conducts the survey, of 80 domestic banks and 24 U.S. branches of foreign banks quarterly. What the most …

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