To the untrained eye, Joe Biden leaves the presidency with what appears to be a sterling economic record: hiring proceeding at a solid clip, gross domestic product on the rise and consumers still spending at a strong pace. There's just one problem, and it is one that will forever taint...
Core inflation rate slows to 3.2% in December, less than expected
Prices that consumers pay for a variety of goods and services rose again in December but closed out 2024 with some mildly better news on inflation, particularly on housing. The consumer price index increased a seasonally adjusted 0.4% on the month, putting the 12-month inflation rate at 2.9%, the...
Bank of America tops estimates on better-than-expected investment banking, interest income
Bank of America on Thursday posted results that topped expectations for profit and revenue on better-than-expected investment banking and interest income. Here's what the company reported: Earnings: 82 cents vs. 77 cents expected, according to LSEG Revenue: $25.5 billion vs. $25.19 billion expected The company said fourth-quarter profit more than...
Capital One acknowledges ‘outage’ as users report issues accessing deposits
Getty Images Capital One said an unspecified technical issue was hampering customer account access Thursday, as some users reported issues with direct deposits. In response to complaints on social media platform X, a Capital One representative said the bank was experiencing a "tech outage" that was affecting "a variety of...