President Joe Biden said he was “discouraged” and “angry” about the Supreme Court’s decision to block his student loan forgiveness plan on Friday — but there could still be some relief in sight for the roughly 40 million borrowers who would have benefited from seeing $10,000 to $20,000 of their…
Hi, MarketWatchers. Don’t miss these top stories.Supreme Court ruling on student debt will ‘devastate’ millions of borrowers. No, it would have ‘punished’ poor Americans. Who’s right? Biden estimated that student-loan forgiveness would have helped more than 40 million borrowers. Republicans disagree. What if you can’t pay back your student loans…
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Wharton professor Jeremy Siegel said on Friday that he is not ruling out an interest- rate cut by the Federal Reserve by the end of the year, despite market expectations. Traders in federal funds futures are pricing in a scant 1% chance that the central bank will lower its key…
Major U.S. banks including Morgan Stanley and JPMorgan Chase & Co. announced dividend increases late Friday, in the wake of the results of the Federal Reserve’s latest bank stress tests earlier this week. JPMorgan JPM, +1.40% said it plans to raise the bank’s dividend to $1.05 a share, up from…
Few companies grow at above-average rates for more than a year or two. Or, as the late British economist and philosopher John Maynard Keynes famously put it, trees don’t grow to the sky. This is especially important to remember now, with exuberant investors giving huge valuations to certain tech stocks.…
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Hours after the Supreme Court struck down his student-debt relief plan, President Joe Biden announced that he would look to cancel debt en masse via other means. But whether borrowers’ wallets feel the impact of the announcement will depend on its implementation, experts say. The court ruled Friday that the Biden…
IPO investors, much like retail shoppers in recent years’ inflationary environment, are demanding clear discounts and demonstrating sensitivity to price and valuations, according to Renaissance Capital. The provider of IPO exchange-traded funds and institutional research said that’s a positive — even if tech unicorns in the pipeline would prefer it…
“ The U.S. needs to pay for the structural increases in spending that demographics, climate change and intra- and intergenerational fairness will require. ” Now that the brinkmanship over the U.S. federal debt limit has been suspended until January 1, 2025, two major, interdependent fiscal-policy challenges demand attention. First, America’s public…