Ranking Member Waters’ Statement on Federal Reserve’s First Interest Rate Cut Since Pandemic
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Category: Economy
U.S. Economy Adds 142,000 Jobs in August; Unemployment Rate Falls to 4.2%, Biden Hails Progress
According to the most recent Bureau of Labor Statistics data, the U.S. economy added 142,000 nonfarm payroll jobs in August, less than the 165,000 economists had predicted. While the job growth missed forecasts, the unemployment rate dropped to 4.2% from July’s 4.3%, suggesting continued strength in the labor market under the Biden-Harris administration.
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HUD Awards $31.7 Million to Support Fair Housing Organizations Nationwide
The U.S. Department of Housing and Urban Development (HUD) has awarded $31.7 million in grants to 75 fair housing organizations across the country as part of its FY 2024 budget, providing crucial support to initiatives aimed at eliminating housing discrimination. Among the recipients are two Washington, D.C.-based organizations, the National Fair Housing Alliance (NFHA) and the Equal Rights Center, each receiving over $400,000.
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New Report Exposes Tax System’s Role in Widening Racial Wealth Gap, Calls for Urgent Reforms
Today, Color of Change, the nation’s largest online racial justice organization, and Americans for Tax Fairness released a damning report exposing the deep racial inequities entrenched in the U.S. tax system. The issue brief “How Tax Fairness Can Promote Racial Equity,” written by Color of Change Managing Director Portia Allen-Kyle and Americans for Tax Fairness Executive Director David Kass, exposes the systemic flaws in tax policy that have widened the racial wealth gap and prevented economic mobility for Black, Brown, and Indigenous communities.
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Report Reveals Racial Wealth Gap Widens in the United States
A new report from WalletHub, a personal finance website, has found that the racial wealth gap in the United States is alive and well. The report, titled “2024’s States with the Biggest & Smallest Wealth Gaps by Race/Ethnicity,” compared the 50 states and the District of Columbia across 21 key metrics, ranging from the median household income gap to the unemployment rate gap.
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Accountability in Action: Congresswoman Maxine Waters Challenges Banks at Town Hall Meeting in Inglewood
On Saturday, December 2, Congresswoman Maxine Waters, representing California’s 43rd District, led a discussion at Inglewood High School to tackle the pressing issue of banking accessibility within the community. This town hall meeting served not only as an open discussion but also as a call to action for residents to actively participate in shaping the financial landscape of this underserved community.
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Congresswoman Maxine Waters Supports 40 Year Anniversary of First Black Asset Management Firm, Continues Calls for Wealth Building Opportunities for Black Communities in Los Angeles and U.S.
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Jury Awards $1.78 Billion in Damages in Realtors’ Commission Inflation Case
A jury in Missouri has found the National Association of Realtors (NAR) and several residential brokerages liable for conspiring to artificially inflate commissions for home sales, resulting in a staggering $1.78 billion in damages. The potential payout may escalate to $5 billion, factoring in the treble damages made possible by the verdict.
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Reports Cast Shadows on the Economic Picture for Black Californians
Recent studies suggest that the economic picture for Black Californians is not looking rosy.
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Small Landlords Are Encouraged To Apply For The City Of Los Angeles Emergency Renters Assistance Program
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Wells Fargo Awards Grant to Brotherhood Crusade Advances Middle-Wage Workforce Development
Brotherhood Crusade is thrilled to announce the support of Wells Fargo through a grant aimed at empowering its Middle-Wage Workforce Development and Career Place initiative. This strategic partnership reflects both organizations’ commitment to fostering economic growth, employment opportunities, and skill development within the community.
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Biden Administration Takes Action to Increase Transparency and Eliminate Hidden Rental Fees
Seeking to promote transparency and fairness for renters, major online real-estate marketplaces have joined the Biden administration’s initiative to crack down on hidden apartment rental fees.
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