Cheryl Magnusson and her husband wanted to borrow money for a home renovation project earlier this year. They didn’t expect an arduous process. She said they always easily landed loan , including a mortgage in 2009 in the wake of the US housing crisis. At first, Magnusson, a teacher in Arizona who runs a consulting…
Even though the Federal Reserve didn’t hike its benchmark interest rate on Wednesday, it didn’t lower its high-yield either. So it remains at its highest level in 22 years. Given that the Fed influences — directly or indirectly — interest rates on financial accounts and products throughout the US economy, that means savers and people…
At any given moment, if you want to know what the Federal Reserve is most likely to do at any of its meetings through the end of 2024, you can head to the Chicago Mercantile Exchange Group’s FedWatch Tool page. There, you will find a bar chart plotting the share of traders predicting a rate…
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Gas prices are surging once again in the United States, with the West Coast, particularly California, feeling the pinch. The average gas price in California has soared to $5.76 a gallon, a 30-cent increase in just one week. In the Los Angeles-Long Beach metro area, it reached $6.03 a gallon, a 47-cent hike in seven…
In the event of a US government shutdown, vital economic data, including inflation and unemployment figures, would cease to be released, leaving investors and the Federal Reserve in the dark about the state of the US economy. This uncertainty could impact decision-making in financial markets and monetary policy. As the US faces a potential economic…
US Inflation Expected to Continue Cooling Despite Energy Costs. US inflation has been steadily slowing down from its peak in June, and it’s expected to further cool, thanks to declining car prices and rents. Additionally, if the US job market continues to slow, this could contribute to further inflation reduction. While rising energy costs have…
As the historic United Auto Workers (UAW) strike officially commences, experts weigh in on the potential effects on the US economy. While there are concerns about the strike’s economic impact, it is unlikely to push the nation into a recession. Gabriel Ehrlich, an economic forecaster at the University of Michigan, pointed out that the unionized…
Economic activity in China’s displayed encouraging signs of improvement in August, suggesting that the recent downturn in growth may be stabilizing. While this is a positive development, it’s important to note that the challenges facing the country, particularly in the real estate sector, are far from over. According to data released by the National Bureau…
Time is running out to avert a strike that could shut down America’s unionized automakers assembly plants and other manufacturing facilities. The United Auto Workers contracts expire at 11:59 pm Thursday. The contracts cover 145,000 UAW members at the three companies: General Motors, Ford, and Stellantis, which builds vehicles under the Jeep, Ram, Dodge, and…