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www.mercurynews.com
4 months ago
California

Walters: California's list of dysfunctional programs continues to grow

California has a history of dysfunctional state projects that have failed to meet expectations or ran up costs.
Examples include the bullet train project, Employment Development Department's handling of unemployment claims, and failed IT projects like FI$Cal. [ more ]
The Sacramento Bee
6 months ago
California

Mother and California inmate son charged in COVID unemployment insurance fraud case

A mother and her incarcerated son have been indicted for using inmates' names to file fraudulent unemployment claims during the pandemic.
The scheme involved filing claims for inmates who were not employed and then keeping the majority of the payments. [ more ]
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HousingWire
1 year ago
Real estate

Inflation is high, so why aren't mortgage rates higher?

Not only has the data stayed firm, but the economic data has improved recently.Also, gas prices are down from the peak, and the inflation growth rate is no longer skyrocketing.If the labor market breaks this year, meaning jobless claims noticeably rise, that should send the 10-year yield to 2.73%, and mortgage rates can go as low as 5.25%.
Washington Post
1 year ago
Business

More Democrats criticize Fed rate hikes

WASHINGTON, DC - JUNE 22: Jerome H. Powell, chairman of the U.S. Federal Reserve, speaks during a Senate Banking, Housing, and Urban Affairs Committee hearing on June 22, 2022 in Washington, DC. (Oliver Contreras/for The Washington Post)Less than two weeks before the midterms, a growing number of Democrats in Congress are putting more pressure on the Federal Reserve, calling on officials to slow their fight to cool the economy before it harms the labor market and causes more economic pain.
HousingWire
1 year ago
Real estate

Inflation is high, so why aren't mortgage rates higher?

Not only has the data stayed firm, but the economic data has improved recently.Also, gas prices are down from the peak, and the inflation growth rate is no longer skyrocketing.If the labor market breaks this year, meaning jobless claims noticeably rise, that should send the 10-year yield to 2.73%, and mortgage rates can go as low as 5.25%.
Washington Post
1 year ago
Business

More Democrats criticize Fed rate hikes

WASHINGTON, DC - JUNE 22: Jerome H. Powell, chairman of the U.S. Federal Reserve, speaks during a Senate Banking, Housing, and Urban Affairs Committee hearing on June 22, 2022 in Washington, DC. (Oliver Contreras/for The Washington Post)Less than two weeks before the midterms, a growing number of Democrats in Congress are putting more pressure on the Federal Reserve, calling on officials to slow their fight to cool the economy before it harms the labor market and causes more economic pain.
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