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Fed and ECB bend to markets ahead of economy

Fearing market disruptions, both the European Central Bank and the Federal Reserve will most likely take more stimulus measures this month regardless of what...
JEROME POWELL, chairman of the U.S. Federal Reserve, said Friday that while the U.S. economy is strong, it faces uncertainty from global markets and trade uncertainties. / Bloomberg News File Photo/Andrew Harrer

Powell says economy in favorable place, faces significant risks

WASHINGTON – Federal Reserve Chairman Jerome Powell said the United States economy is in a favorable place but faces “significant risks” as growth abroad...

Banks don’t need lower rates

It’s generally accepted that one of the keys to a healthy economy is a robust banking system. For some reason, though, central banks seem...

Trump’s trade war challenges Fed’s independence

All four living former chairs of the Federal Reserve took to the op-ed page of the Wall Street Journal on Aug. 5 to defend...
The continuing drop in interest rates has made homes more affordable, but it has increased mortgage refinancing even more, according to the Mortgage Bankers Association. / BLOOMBERG NEWS FILE PHOTO/MIKE MERGEN

Should you refinance your mortgage? Fever sweeps U.S.

NEW YORK – Suddenly, mortgage broker Mark Livingstone is working weekends and spending his meager free time reading resumes, because he needs help handling the...

Washington Trust encouraged that Fed expected to cut interest rates

WESTERLY – After reporting a 2.3% decline in second-quarter profit compared to the previous year, The Washington Trust Co. executives on July 22 welcomed...
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The Birdhouse
70 Beacon Hill Road
Newport 
Price: $9,000,000
Date sold: July 30, 2018
Buyers: Judith S. and Jerry Sheindlin
Seller: Dorrance H. Hamilton Revocable Trust
Broker: Gustave White Sotheby’s International Realty (buyers and seller)
Year built: 2012
Bathrooms: 6 full, 2 half
Bedrooms: 6
Living space: 14,912 square feet
Previous price: Originally listed for $10,900,000. 
HOLDING COURT: Judy Sheindlin, of the syndicated TV show “Judge Judy,” and her husband, Jerry, purchased The Birdhouse at 70 Beacon Hill Road in Newport for $9 million last July, making it the most expensive home sale in Rhode Island in 2018.
 / COURTESY MICHAEL OSEAN

Despite multi-factor challenges, high-end home sales continue to grow in Rhode...

Despite the up-and-mostly down nature of the stock market in 2018, Rhode Island’s luxury real estate market showed no signs of slowing down. And...

Tax cut winners and losers

President Donald Trump and the Republicans’ tax cut is proving to be vastly more generous for corporate America, and vastly more expensive for taxpayers,...
THE FEDERAL RESERVE, led by Chairman Jerome Powell, raised the federal funds rate target to a range of 2.25 percent to 2.5 percent, the central bank's fourth hike this year. But Powell and company signaled that they expect two rate hikes in 2019, as opposed to the three that were forecast previously. / BLOOMBERG NEWS FILE PHOTO/ANDREW HARRER

Fed raises rates, trims forecast for hikes in 2019 to two

WASHINGTON – The Federal Reserve raised borrowing costs for the fourth time this year, ignoring a stock-market selloff and defying pressure from President Donald...

Survey: U.S. companies may be ‘overexposed’ to rising interest rates

PROVIDENCE – About two-thirds of U.S. corporate decision-makers have not locked in favorable rates to mitigate their interest rate and foreign-exchange exposure, a decision...
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