Money

Wall Street is betting the Federal Reserve will raise interest rates at the steepest pace in over two decades as policymakers look to tame red-hot inflation.

The Education Department is changing its policy around income-driven repayment (IDR) forgiveness, according to a press release.

President Biden has so far canceled just a fraction of the student loan debt that he promised to erase on the campaign trail, but the White House said this week that a broader forgiveness plan is still a possibility.

A Tennessee man admitted Thursday to receiving more than $600,000 in COVID-19 relief and using those loans for himself.

World Bank President David Malpass said Thursday that the physical damage to Ukrainian buildings and infrastructure from Russia's invasion has now reached around $60 billion.

More than 75 groups sent a letter the CFPB, urging it to begin regulating buy now, pay later providers like credit card companies.

Oklahoma is considering a bill that would give $698 million in rebates and incentives to companies who meet specific thresholds for job creation and capital expenditures.

Federal authorities have charged two Michigan brothers and a Florida man in connection with an art and sports memorabilia scheme spanning 15 years that involved forged paintings and bogus autographs from some of baseball's most legendary figures, according to the Justice Department.

If President Biden delivers on his promise of loan forgiveness, it could potentially benefit millions of borrowers. However, debt cancellation is a costly policy, according to the NY Fed.

Old Navy is committing to pausing price hikes on select kids' clothing through the end of September to help families with their back-to-school shopping amid record-high inflation.

Federal tax receipts likely surged to another record high this year, reflecting a booming economy and huge growth in corporate profits amid red-hot inflation.

About a fifth of U.S. adults quit a job last year in pursuit of higher wages, more benefits and a better work-life balance, according to Pew Research Center.

The clock is ticking on a winning Powerball ticket that hasn't been turned in yet. The $150,000 prize expires at 4:45 p.m. on April 25.

Inflation is running at the hottest pace in more than four decades, and consumer prices could march even higher before they begin to subside.

The median monthly asking rent increased 17% compared with a year ago, to $1,940, according to real estate brokerage Redfin.