New York Community Bank, the regional lender that needed a $1 billion-plus lifeline last month, is offering the country's highest interest rate for a savings account. NYCB raised the annual percentage yield offered via its online arm, My Banking Direct, to 5.55%, higher than any other bank's widely available account,...
Yellen says U.S. plans to ‘underscore’ need for China to shift policy
BEIJING — U.S. Treasury Secretary Janet Yellen said Monday that future discussions between the U.S. and China will focus on Beijing's need to shift its policy on industry and the economy. "We intend to underscore the need for a shift in policy during these talks — building on the over two hours I spent...
New ETF looks to profit from municipal bonds
A new ETF is trying to capture profits in the municipal funds space. BondBloxx's Joanna Gallegos is behind the IR+M Tax-Aware Short Duration ETF (TAXX) — which launched less than a month ago. "When you think about municipal bond portfolios, you really want people to think beyond them and...
Free trade flaws fueled Trump’s rise in 2016 — and the problems remain, top economist says
Decades of trade deficits and a strong dollar created too many "losers" in the U.S. economy who turned to Donald Trump's protectionist policies, according to Richard Koo, chief economist at the Nomura Research Institute — and those conditions remain. Trump's "America First" economic policies led his administration to institute a...