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Showing posts with the label Economy | US Economy.

Economy | US Economy | Thursday, May 5, 2022:

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 Source: wsj.com Fed, Biden Administration Float New Lending Rules for Lower-Income Areas Andrew Ackerman 9-11 minutes WASHINGTON—Top U.S. regulators proposed overhauling how banks lend hundreds of billions of dollars annually in lower-income communities, after scrapping a Trump-era revamp that had divided regulators and industry officials. The latest proposal to modernize rules for the 1977 Community Reinvestment Act, announced Thursday, aims to ensure lending to lower-income individuals and small businesses is distributed more evenly where banks do business. Existing rules focus on bank activities around their physical branches. Those rules are outdated in a world in which much financial activity happens online, both bankers and community advocates say. “Today’s proposal seeks to expand access to credit, investment, and banking services in [low- and middle-income] communities,” said incoming Federal Rese

Economy | US Economy | Rubenstein: 'Phase one' US-China trade deal would ease economic fears for 'next year or so'

Matthew J. Belvedere 2minutos Source: CNBC Private equity billionaire David Rubenstein told CNBC on Tuesday that he believes the U.S. and China will be able to complete the “phase one” trade deal that was reached in principle last month. ″‘Phase one’ is not everything, but it’s enough to get people feeling that this is not a big issue for the economy for the next year or so,” said the co-founder and co-executive chairman of The Carlyle Group, which has $222 billion of assets under management. According to Reuters, a U.S. official said the fate of new mid-December tariffs is being considered as part of the negotiations with China on getting to a place where President Donald Trump and Chinese President Xi Jinping can sign the agreement, perhaps as soon as later this month. The trade between the world’s two largest economies has been going on for more than a year, resulting in escalating tariffs on each other’s imports. The bigge