Author: Zachary Halaschak

New home sales rose in March despite the housing market feeling the effects of higher mortgage rates, which have recently inched even higher. New home sales increased 8.8% from February to 693,000, according to a Tuesday report from the Census Bureau. The number of new home sales is 8.3% higher than it was in March of last year, owing in part to dampened inventory of existing homes.…

Sens. Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY) introduced bipartisan legislation that includes guardrails for stablecoins, a unique form of cryptocurrency. Lummis and Gillibrand announced the long-awaited legislation on Wednesday morning. The Lummis-Gillibrand Payment Stablecoin Act creates a regulatory framework for payment stablecoins, which have quickly grown in popularity over the last few years. Stablecoins, while…

Sen. Tim Scott (R-SC) launched an effort Wednesday to overturn the Securities and Exchange Commission’s climate disclosure rule with the help of a key Democrat. Scott, who is the ranking member of the Banking Committee, introduced the Congressional Review Act resolution after previously announcing he would challenge the rule. The Congressional Review Act allows Congress to…

President Joe Biden called for tripling the tariffs on Chinese steel and aluminum, a policy proposal timed for his meeting with union workers in Pennsylvania on Wednesday. While speaking before the United Steelworkers union, Biden will call upon U.S. Trade Representative Katherine Tai to triple the tariffs from their average level of 7.5%. A White…

Federal Reserve Chairman Jerome Powell indicated recent high inflation is making it less likely that interest rates will be cut in the coming weeks and months. Powell, speaking during a question-and-answer session in Washington, D.C., emphasized that the hotter-than-desired inflation reports over the past quarter have not provided the Fed the confidence it needs that…

President Joe Biden is campaigning on tax hikes on the wealthy and corporations of the kind that he has mostly failed to implement thus far. Biden will make stops on Tuesday in his home state of Pennsylvania, where he will use the opportunity to contrast his tax policy vision with that of his opponent, former…

Prices are up nearly 19% across the board since President Joe Biden entered office, meaning households are suffering sticker shock even if the inflation rate has moderated in recent months. Inflation, as tracked by the consumer price index, rose to 3.5% for the year ending in March, the Bureau of Labor Statistics reported Wednesday. Overall,…

While one might not associate bitcoin mining with sustainable development in Africa, some are predicting that the industry will help people across the continent. Africa is the least developed continent on Earth, with millions still without access to electricity. Bitcoin mining, the process of minting new bitcoins, could help to build up Africa’s power grids…

Members of Congress are working to legislate guardrails for stablecoins, a unique form of cryptocurrency. While a relatively new concept, stablecoins have exploded in popularity, leading lawmakers to seek regulation. Here’s what to know. What stablecoins are Stablecoins, while a form of cryptocurrency, differ in some major respects from traditional crypto assets, such as bitcoin…