State Farm's Rate Hike in California

State Farm is requesting an additional 11% rate hike for homeowners in California, on top of the 17% emergency rate hike already approved. Despite criticisms of failing obligations to consumers and lowballing compensation estimates for fire damages, the company aims to increase rates significantly.

California Insurance Commissioner approves State Farm rate hike

California Insurance Commissioner Ricardo Lara granted State Farm's request for large rate increases despite the company's mistreatment of wildfire victims and questionable business practices.

Federal Reserve Chair Jerome Powell's Comments on Inflation and Monetary Policy

Federal Reserve Chair Jerome Powell reiterates that inflation is falling more slowly than expected, keeping the central bank on hold. Powell expects inflation to come down but does not anticipate a rate hike in the near future.