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Search resuls for: "Gabriel T. Rubin"


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☆ Immigrants’ Share of the U.S. Labor Force Grows to a New High
  + stars: | 2023-05-22 | by ( Gabriel T. Rubin | Rosie Ettenheim | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/immigrants-share-of-the-u-s-labor-force-grows-to-a-new-high-67805c45
☆ For-Profit Schools to Face Penalties for High Debt Loads, Low Incomes of Graduates
  + stars: | 2023-05-18 | by ( Gabriel T. Rubin | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/for-profit-schools-to-face-penalties-for-high-debt-loads-low-incomes-of-graduates-a2234cd8
☆ Debt-Ceiling Timing Has Silver Lining for Student Loans
  + stars: | 2023-05-17 | by ( Gabriel T. Rubin | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/debt-ceiling-timing-has-silver-lining-for-student-loans-6f9e996a
☆ Inflation Data to be Watched as Fed Contemplates Pausing Rate Hikes
  + stars: | 2023-05-10 | by ( Gabriel T. Rubin | ) www.wsj.com   time to read: 1 min
Inflation is slowly easing, but it’s still far from the Federal Reserve’s 2% target. WSJ’s Nick Timiraos explains how 2% became the central bank’s sweet spot and what happens when the U.S. economy strays too far from it. Photo Illustration: Preston JesseeA closely watched April inflation reading Wednesday could influence the Federal Reserve’s strategy over whether to pause its interest-rate increases. Inflation has cooled from its recent peak but remains stubbornly elevated. The Fed aggressively raised rates for more than a year to try to tame inflation by slowing economic activity, and indicated last week that it might be done lifting them for now.
☆ Inflation Eased in April but Remains Stubbornly High
  + stars: | 2023-05-10 | by ( Gabriel T. Rubin | ) www.wsj.com   time to read: 1 min
Inflation is still much higher than the Fed’s target and economists are warning it may be stickier than markets are expecting. WSJ’s Dion Rabouin breaks down what the April CPI showed and what matters for markets and the economy. Photo: Andrew Harrer/Bloomberg NewsInflation edged slightly lower in April, likely keeping the Federal Reserve on course to pause interest-rate increases at its next meeting. The consumer-price index rose 4.9% in April from a year earlier, the Labor Department said Wednesday, down from March’s 5% increase. The inflation reading has declined from a recent peak of 9.1% in June 2022, but remains historically high.
☆ Thousands of Jobs Were Added in April—Even in Industries With Layoffs
  + stars: | 2023-05-06 | by ( Gabriel T. Rubin | ) www.wsj.com   time to read: 1 min
The April jobs report provides the latest update on the health of U.S. consumers and how companies are responding to higher borrowing costs. PHOTO: Bryan Tarnowski/Bloomberg NewsEmployers across the economy cranked out jobs last month, despite Amazon, Disney, General Motors and other high-profile companies recently cutting staff. Overall, April employment held up in the tech, finance, construction and manufacturing industries, the Labor Department said Friday. Hiring expanded in other fields such as restaurants and hospitals that have led the hiring boom.
☆ Fed Should Pause Rate Increases After This Week, Former Vice Chair Says
  + stars: | 2023-05-02 | by ( Gabriel T. Rubin | ) www.wsj.com   time to read: 1 min
At The Wall Street Journal’s Future of Everything Festival, Richard Clarida discusses the current economic conditions and excess consumer savings that he suggests might lead to a pause in rate increases. The Federal Reserve should suspend its interest-rate increases after one more this week, former Fed Vice Chair Richard Clarida said. “I would be in the camp of signaling a pause,” Mr. Clarida said at The Wall Street Journal’s Future of Everything Festival on Tuesday, citing the cumulative effects of the Fed’s rate increases so far as well as tighter credit conditions following the failures of a few regional banks in the past two months.
☆ Wage Growth, Inflation Data to Inform Fed Before Rate Decision
  + stars: | 2023-04-28 | by ( Gabriel T. Rubin | ) www.wsj.com   time to read: 1 min
Job openings for workers have decreased this year but remain historically high Photo: Ed Jones/Agence France-Presse/Getty ImagesA Labor Department report will show whether worker-pay gains continued to slow from last year’s rapid pace, a data point closely watched by Federal Reserve policy makers seeking to tame inflation. Fed officials will also see their preferred gauge of consumer inflation along with details on household income and spending in a separate Commerce Department report. The reports are among the last major releases before the Fed’s monetary policy committee meeting next week.
☆ Wage Gains Pick Up as Fed Contemplates Next Rate Decision
  + stars: | 2023-04-28 | by ( Gabriel T. Rubin | ) www.wsj.com   time to read: 1 min
Construction workers claimed some of the fastest pay increases over the latest quarter. Photo: Ed Jones/Agence France-Presse/Getty ImagesWage growth stayed elevated to start the year and inflation remained high, likely keeping Federal Reserve policy makers on track to raise rates again next week. Employers spent 1.2% more on wages and benefits in the first quarter from the prior three months, a slight uptick from an upwardly revised 1.1% increase in the fourth quarter, the Labor Department said Friday.
☆ Americans Escaping Pricey Cities Bring Higher Housing Costs, Inflation With Them
  + stars: | 2023-04-22 | by ( Gabriel T. Rubin | ) www.wsj.com   time to read: 1 min
The Tampa area has one of the highest inflation rates in the nation. Photo: Octavio Jones for The Wall Street JournalTampa, Fla., residents face some of the hottest inflation in the country, but when excluding sizzling housing costs, price increases are nearly as cool as in Minneapolis. The disparity shows regional inflation is heavily influenced by home prices and rent costs. The Tampa area has one of the highest inflation rates in the nation, 7.7% in March, according to the Labor Department. But when shelter costs are removed from the index, the Florida metro’s rate was 3.8%—putting it in line with the Minneapolis area, where inflation excluding housing was 3.6%.
☆ Lending Slowed, Economy Cooled After Bank Failures, Fed Report Shows
  + stars: | 2023-04-20 | by ( Gabriel T. Rubin | ) www.wsj.com   time to read: 1 min
Illustration: Jacob Reynolds. Consumers and businesses borrowed less as overall economic growth flattened in the weeks since two mid-March bank failures sparked financial turmoil, the Federal Reserve said in a report Wednesday. Banks in several parts of the country tightened lending standards and raised concerns about liquidity and uncertain expectations for future growth after Silicon Valley Bank and Signature Bank collapsed, some of the Fed’s 12 regional reserve banks reported.
☆ Economists Turn More Pessimistic on Inflation
  + stars: | 2023-04-15 | by ( Gabriel T. Rubin | Anthony Debarros | ) www.wsj.com   time to read: 1 min
The economy is proving more resilient and inflation more stubborn than economists expected a few months ago, and as a result the Federal Reserve will keep interest rates high for longer, according to The Wall Street Journal’s latest survey of economists. On average, economists expect inflation, as measured by the annual increase in the consumer-price index, to end this year at 3.53%, up from 3.1% in the January survey. Inflation in March was 5%, the Labor Department reported this past week, the lowest in two years.
☆ Supplier Prices Fell in March, Adding to Signs of Moderating Inflation
  + stars: | 2023-04-13 | by ( Gabriel T. Rubin | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/supplier-prices-fell-in-march-adding-to-signs-of-moderating-inflation-20d61755
☆ U.S. Job Openings Dropped in February
  + stars: | 2023-04-04 | by ( Gabriel T. Rubin | ) www.wsj.com   time to read: 1 min
Job openings in February still far outnumbered the 5.9 million unemployed people seeking work. The number of job openings fell in February, dropping below 10 million for the first time in nearly two years in a sign that employers’ demand for workers eased amid a still strong labor market. There were a seasonally adjusted 9.9 million job openings in February, the Labor Department said Tuesday, down from January’s downwardly revised 10.6 million.
☆ Banking Turmoil Tests the American Consumer
  + stars: | 2023-03-22 | by ( Gabriel T. Rubin | ) www.wsj.com   time to read: 1 min
American consumers are facing another test, from banking-sector turmoil and tighter financial conditions, as households already grappling with elevated inflation and rising interest rates threaten to trim the spending that has been a hallmark of the resilient U.S. economy. Unrest in the banking sector could make it more difficult for some consumers to obtain loans to buy homes, cars and other big-ticket items. Economists say much of the near-term impact could depend more on Americans’ psychology—whether they have confidence the economy will weather the banking storm that might or might not directly hit their pocketbooks.
☆ U.S. Inflation Cooled in February as Fed Confronts Bank Failures
  + stars: | 2023-03-14 | by ( Gabriel T. Rubin | ) www.wsj.com   time to read: 1 min
Elevated inflation cooled modestly in February, as the Federal Reserve faces dual threats of rising prices and financial instability. The consumer-price index, a closely watched inflation gauge, rose 6% in February from a year earlier, versus a 6.4% gain the prior month, the Labor Department said Tuesday, the slowest pace since September 2021. The smaller increase comes as the Fed contemplates its next interest-rate move while confronting price pressures and bank failures.
☆ Inflation Report Arrives as Fed Confronts Bank Failures
  + stars: | 2023-03-14 | by ( Gabriel T. Rubin | ) www.wsj.com   time to read: 1 min
The Labor Department’s inflation reading Tuesday will inform the Federal Reserve on price pressures in the economy as the central bank confronts bank failures. The inflation rate has cooled from a recent peak last June, but has remained stubbornly high. The consumer-price index, a closely watched measure of inflation, advanced 6.4% in January from a year earlier, just edging down from December’s 6.5% increase.
☆ Student-Loan Bills Are Set to Come Due, Adding Pressure on Younger Americans
  + stars: | 2023-03-11 | by ( Gabriel T. Rubin | Gwynn Guilford | ) www.wsj.com   time to read: 1 min
The expected restart of student-loan repayments later this year could add to pressure on younger borrowers, who are already falling behind on debt in an era of high inflation and rising interest rates. Americans in their 30s and younger are showing signs of financial strain. In the fourth quarter, they fell behind on credit-card payments by 90 days or more at a rate similar to that in 2009, at the end of the financial crisis. Those borrowers also hold more than 54% of outstanding student-loan debt, New York Federal Reserve data show.
☆ What’s in Biden’s 2024 Budget Request
  + stars: | 2023-03-09 | by ( Gabriel T. Rubin | ) www.wsj.com   time to read: 1 min
The Biden administration on Thursday released a budget outline for fiscal year 2024 that highlights the president’s policy priorities, calling for increases in funding for defense, immigration, healthcare and clean energy programs. The budget outline calls for Congress to approve $1.7 trillion in discretionary federal spending next year, including $885 billion for defense and roughly $809 billion for nondefense and veterans’ health programs. The overall budget, including non-discretionary entitlement programs like Social Security and Medicare, would cost $6.9 trillion, an increase over the roughly $6.4 trillion the administration expects the federal government to spend in 2023.
☆ Borrowers Likely Won’t Know for Months if Student Loans Will Be Forgiven
  + stars: | 2023-03-01 | by ( Andrew Restuccia | Gabriel T. Rubin | ) www.wsj.com   time to read: 1 min
WASHINGTON—Tens of millions of borrowers face months of uncertainty as the Supreme Court decides the fate of President Biden’s student loan forgiveness program. During oral arguments on Tuesday, the court’s conservative majority expressed skepticism that the Biden administration had the legal authority to wipe away debt for the majority of the 43 million Americans with federal student loans. The court will likely not deliver its decision in the case until late June, leaving borrowers to wonder whether their loan balances will be slashed by as much as $20,000.
☆ Student-Loan Borrowers Likely Won’t Know for Months if Debt Will Be Forgiven
  + stars: | 2023-03-01 | by ( Andrew Restuccia | Gabriel T. Rubin | ) www.wsj.com   time to read: 1 min
WASHINGTON—Tens of millions of borrowers face months of uncertainty as the Supreme Court decides the fate of President Biden’s student loan forgiveness program. During oral arguments on Tuesday, the court’s conservative majority expressed skepticism that the Biden administration had the legal authority to wipe away debt for the majority of the 43 million Americans with federal student loans. The court will likely not deliver its decision in the case until late June, leaving borrowers to wonder whether their loan balances will be slashed by as much as $20,000.
☆ Student-Loan Forgiveness Case at Supreme Court Hinges on ‘Harm’
  + stars: | 2023-02-27 | by ( Gabriel T. Rubin | ) www.wsj.com   time to read: 1 min
Challengers to President Biden’s student-debt cancellation plan want the high court to decide whether the administration overstepped its authority. Challengers to President Biden’s mass student-debt cancellation plan must clear a hurdle before the Supreme Court can move on to the merits of the case: Showing that they would suffer harm from the program. The high court will hear arguments on Tuesday related to Mr. Biden’s plan to cancel up to $10,000 in debt for borrowers making less than $125,000 annually, with extra relief going to people who received Pell Grants. Individuals and Republican state officials sued the administration last year seeking to block the plan from going into effect.
☆ Student-Loan Forgiveness: What to Know About Biden’s Plan and the Supreme Court Case
  + stars: | 2023-02-27 | by ( Gabriel T. Rubin | Julia Carpenter | ) www.wsj.com   time to read: 1 min
President Biden’s student-loan plan would reduce or wipe out the debt of millions of borrowers. But legal challenges might imperil the program moving forward. On Nov. 10, a federal judge in Texas struck down the debt-relief plan, calling it “an unconstitutional exercise of Congress’s legislative power.” The Supreme Court has now taken up appeals in that case and a related one, and is expected to decide the fate of the program, among other far-reaching implications, by the end of its term in late June.
☆ Student-Loan Forgiveness Risks Losing a Rationale as Biden Ends Pandemic Emergency
  + stars: | 2023-02-10 | by ( Gabriel T. Rubin | ) www.wsj.com   time to read: 1 min
The White House relied on executive powers tied to the Covid-19 emergency declaration to allow President Biden to enact a student-debt forgiveness plan. The Biden administration’s decision to end the Covid-19 national emergency declaration could undermine a central justification for its student-debt forgiveness plan as the Supreme Court prepares to decide the fate of the program. Mr. Biden outlined a plan in August to cancel up to $20,000 in federal student loan debt for borrowers making under $125,000 a year. Unable to pass the plan in Congress, the White House relied on expanded executive powers tied to the emergency declaration to enact the plan, and Mr. Biden said his intent was to “address the financial harms of the pandemic.”
☆ Cooler Pay Gains Add to Debate on When Fed Might Pause Rate Hikes
  + stars: | 2023-02-01 | by ( Gabriel T. Rubin | Nick Timiraos | ) www.wsj.com   time to read: 1 min
Worker pay gains cooled at the end of last year, with the new sign of moderating inflation leaving the Federal Reserve on course to slow interest-rate increases again Wednesday and increasing the possibility of a pause in rate rises this spring. Employers spent 1% more on wages and benefits last quarter versus the prior three months, a slowdown from a 1.2% increase in the third quarter, the Labor Department said Tuesday. Compensation gains slowed in the second half of 2022, after touching the highest readings since the series began in 2001.
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