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Search resuls for: "Michael S. Derby Dan Burns"


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☆ Biden's student-loan defeat may hasten US economic slowdown
  + stars: | 2023-06-30 | by ( Michael S. Derby Dan Burns | Michael S. Derby | Dan Burns | ) www.reuters.com   time to read: +6 min
The Education Department last week said loan payments would resume in October. Reuters GraphicsA White House source said Biden plans to announce new actions on Friday to protect student loan borrowers in the wake of the ruling. Another challenge to at least some of those who face student loan repayment: Managing new debt taken on when student loan payments were off the table. The New York Fed found the debt payment holiday boosted credit scores of student loan borrowers, opening the door to take on other debt. Delinquency rates on student loans plummeted from roughly 10% before the payment holiday to below 1% at the end of the first quarter of this year.
Persons: Joe Biden's, Biden, Thomas Simons, Simons, Morgan Stanley, forbearance, Michael S, Dan Burns, Andrea Ricci Organizations: U.S, Biden, White, Republicans, Department, New York Fed, Reuters, Federal Reserve, Jefferies, York Fed, New, University of Chicago, Derby, Thomson Locations: U.S, New York
☆ Powell says Fed will not change 2% inflation goal
  + stars: | 2022-12-14 | by ( Michael S. Derby | ) www.reuters.com   time to read: +3 min
"We're going to keep our inflation target at 2%. Fed officials have generally resisted any move to change their target. A Fed effort to modestly redefine its inflation target, announced in August 2020, swiftly ran into trouble. In short order, that evolution of the Fed's inflation target was tested by an inflation surge driven by pandemic-related disruptions, government stimulus efforts and geopolitical troubles. Some think the Fed's new thinking on how to pursue the inflation target may have caused officials to move too slowly to combat the soaring inflation.
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