Latest news with #BostonFed
Yahoo
5 days ago
- Business
- Yahoo
Fed's Cook Sees Economic 'Turning Point' After Jobs Data
Federal Reserve Governor Lisa Cook calls the July employment report "concerning," and says it could signal an inflection point for the US economy. She speaks during a moderated discussion organized by the Boston Fed. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
Fed's Cook says tepid July jobs data merits concern
(Reuters) -Federal Reserve Governor Lisa Cook said on Wednesday that July hiring data released last Friday was 'concerning' in the moderation of the pace of hiring. Cook, who was speaking at an event held by the Federal Reserve Bank of Boston, said big revisions like those seen in the July jobs report 'are somewhat typical of turning points' in the economy.
Bloomberg
5 days ago
- Business
- Bloomberg
Fed's Cook Says Jobs Revisions Could Signal a ‘Turning Point'
By and Amara Omeokwe Save Federal Reserve Governor Lisa Cook called the July jobs report 'concerning,' and said it could signal an inflection point for the US economy. 'The revisions are somewhat typical of turning points,' Cook said Wednesday during a moderated discussion organized by the Boston Fed.
Miami Herald
21-06-2025
- Health
- Miami Herald
Fed study blasts few healthcare options in top U.S. tourism states
Romantic getaways. Family memories. Great escapes. We Americans love a good vacation. Don't miss the move: Subscribe to TheStreet's free daily newsletter You might be one of the millions lured this – and every – summer by a bold oceanfront, a lakeside fire pit or leafy mountain paths found in these popular tourism states. Related: Major health care company files for bankruptcy to sell assets Or maybe other seasonal adventures like world-class skiing, lush spring gardens or the simply fabulous foliage each autumn draw you and yours to these renowned venues any time of year. 'Cause there's also a ton of history, culture and sports to explore plus delicious local chow for the foodies. But beyond the cheery facades that welcome visitors are sad and scary realities that full-time residents face regarding year-round healthcare access in their rural communities. A new study by the Federal Reserve Bank of Boston spells out the first-hand accounts of mothers, children, elders and others challenged by distance, income, resources and other economic problems to receive healthcare that so many fellow Americans take for granted. The solutions don't seem to be short-term, straining hopes and accelerating chronic, life-threatening medical crises."Yep. It's a great place to visit but you wouldn't want to live here." Visitors to these states have heard this refrain from locals for decades, all the way back to the last century. Proximity to health care is an increasing concern in rural communities across America. As a result, patient care suffers. So do patients. Greater distances from primary care providers, community hospitals and trauma centers are linked to higher rates of fatal accidents, fatal heart attacks and infant mortality, according to Federal Reserve Bank of Boston senior policy analyst Riley Sullivan. Rural healthcare facilities are finding it more difficult to attract the skilled workforce to fill jobs at every level of skill. Reasons include lack of affordable or available housing and high costs of living magnified by the many, many miles from larger towns and bigger cities. Plus healthcare providers across America maintain that inadequate insurance, Medicaid or Medicare reimbursement rates are leading to major losses at private, public and not-for-profit facilities. Related: Major bankrupt healthcare provider closes distressed hospitals Overall, U.S. hospitals are finding that they have no choice but to cut services due to these acute financial challenges. Some even close because all options have simply run out, leaving their communities in medical deserts facing life-or-death choices 24-7. Boston Fed principal economist and policy advisor Mary Burke, who studies regional labor force participation rates, said all these issues add up to big strains on healthcare systems in Maine, New Hampshire and Vermont. Sullivan's study showed: Northern Light Health, Maine's second-largest health care system, lost a staggering $156 million in 2024. Northern Light Inland Hospital in Waterville (known for its ski resorts) closed earlier this year. In New Hampshire, Catholic Medical Center in Manchester reported monthly losses ranging from "$2 - $3 million," before it was sold in February Vermont, a state-mandated though disputed analysis found that its hospitals will need to find between $700 million and $2.4 billion to break even by 2028. "I think that when you look around the country in rural areas and you find thriving health care systems or hospitals, what you see are thriving communities, where economic development is strong," said Dr. Sunil Eappen, CEO of The University of Vermont Health Network. Economic development is the key to reversing these trends in Vermont and its two northern neighbors. Tourism dollars, though in the millions, just aren't enough. Eappen, also a member of the Boston Fed's Board of Directors, said potential catalysts – including improved infrastructure and more housing – would help stop the bleeding of healthcare access. But ultimately, it all comes down to one thing. "We need another 100-150,000 young people to move in who are working and paying into a commercial insurance population," Eappen said. "We need more people to move in." Related: Major hospital chain owner files for Chapter 11 bankruptcy The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
CNBC
11-06-2025
- Business
- CNBC
A real trade agreement is highly detailed, so things are still uncertain, says Eric Rosengren
Eric Rosengren, Former Boston Fed president, joins 'Money Movers' to discuss the CPI report, Commerce Secretary Lutnick's comments on the U.S.-China trade talks and the economy.
