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California Insurer’s Major Emergency Rate Hike Request Under Scrutiny
California’s largest property insurer, State Farm, started an emergency hearing on Tuesday to increase its rates for homeowners and renters, a move the company says is necessary due to the enormous losses caused by the wildfires in Los Angeles County. If the insurer’s request is approved by the California insurance commissioner, State Farm could hike […]
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Jerome Powell Announces Interest Rate Cut After Inflation Cools
Federal Reserve Chairman Jerome Powell announced Thursday that the central bank cut its benchmark interest rate after inflation cooled in September. After the Fed’s two-day meeting ended on Thursday, the central bank cut its benchmark interest rate, known as the federal funds rate, by a quarter-point to between 4.5 and 4.75 percent. This is the […]
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