Mortgage Demand Drops to 22-year Low as Higher Interest Rates and Inflation Crush Homebuyers
Surging inflation and interest rates are hammering American consumers and weighing on the housing market.
Inflation Spiked 9.1% In June – Hitting New 40-Year High As Price Surge Fuels Recession Fears
Overall prices rose 1.3% from May – surpassing the 1.1% economists were expecting and much higher than the previous month’s increase of 1%, according to data released by the Labor Department on Wednesday.
Fed Minutes Show Appetite For More Rate Hikes to Fight 'Entrenched' Inflation
The Federal Reserve was worried that inflation may become so entrenched in the U.S. economy that the public would question its resolve to fight it,
Can Higher Interest Rates Be Good for Consumers?
The Federal Reserve's strongest weapon in its fight against skyrocketing inflation is raising interest rates.
Fed Hikes its Benchmark Interest Rate by 0.75 Percentage Point, the Biggest Increase Since 1994
U.S. stocks soared Wednesday after the Federal Reserve approved its biggest interest-rate increase since 1994 but suggested moves of that scale likely wouldn’t become common.
Fed Starts Experiment of Tackling $8.9 Trillion Portfolio to Shrink
According to Bloomberg, the U.S. Federal Reserve is about to start shrinking its $8.9 trillion balance sheet, deploying a second tool alongside higher interest rates to curb inflation, though officials don’t know just how effective it will be.
The Federal Reserve Means Business when it Comes to Tightening Monetary Policy
After raising its benchmark interest rate by half a percentage point earlier this month
77% of Investment Fund Managers See Slowing Growth and High Inflation Taking Hold Over the Next Year
With a gallon of milk up about 25% since before the pandemic, and retail bacon 35% higher, it’s hard to imagine how US food inflation could get any worse.
Shares Churn, Close Down; Yields Fall after U.S. Inflation Data
Wall Street stocks closed sharply lower and Treasury yields fell in Wednesday's volatile session as oil prices rallied and investors worried about the potential for an economic slowdown.
Fed Lifts Interest Rates and Will Wind Down $9 Trillion Balance Sheet Assets to Tackle High U.S. inflation
The Federal Reserve on Wednesday raised a key interest rate by a half point and reaffirmed a more aggressive strategy to try to subdue the worst outbreak of U.S. inflation in 40 years.
Ford Just Reported a $3.1 Billion Loss. Blame Sliding Demand, Strong Dollar and… Rivian
New York(CNN Business) In the days after its November IPO, electric truck maker Rivian was briefly one of the world's most valuable automakers despite not yet having reported a single sale.
Jamie Dimon Predicted ‘Storm Clouds’ ahead for U.S. Economy Later This Year
The CEO of the biggest U.S. bank by assets said Wednesday that economic growth will continue at least through the second and third quarters of this year, fueled by consumers and businesses flush with cash and paying off debts on time.
U.S. PCE Price Index Up by 6.4% in Q4 2021
The Bureau of Economic Analysis revealed in its report about the U.S.’s Q4 2021 gross domestic product (GDP) published on Wednesday.
U.S. Labor Market Tightens as Weekly Jobless Claims Hit Lowest Level Since 1969
The number of Americans filing new claims for jobless benefits dropped to a 52-1/2-year low last week