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Rents are rising, adding to inflation fears
... because of the high home prices and mortgage rates. The cost of living for millions of Americans is increasing because of a housing-supply shortage. The median monthly asking rent even exceeded $2,000 for the first time in May, according to Redfin . The Federal Reserve is trying to address the very enemy that is feeding into inflation. Shelter, including rental costs and owners equivalent rent, or what a homeowner could rent their home for, makes up about a third of the Consumer Price Index, a key inflation ...
Updated: 07/06/2022
US stocks fall as Fed minutes awaited
The US stock index fell on Wednesday as investors waited minutes from the Federal Reserve's meeting to gauge the health of the economy and pace of interest rate hikes to stamp out spiking inflation. The US stock index fell on Wednesday as investors waited minutes from the Federal Reserve's Federal Reserve's meeting to gauge the ...
Updated: 07/06/2022
Walmart stock stands tall despite growing risk of recession
... bear most of the additional costs. The US retailers are unable to find a comprehensive alternative to Chinese-made suppliers. With the US economy becoming more fragile due to soaring inflation, unnecessary costs have become particularly unbearable. The Federal Reserve has been unusually aggressive with interest rate hikes, as the US economy is facing its most serious inflation challenge in four decades. There are fears that the US may slip into a recession next year. The US has the urgent need to tame inflation ...
Updated: 07/06/2022
Oil prices drop to 12-week low on recession fears
... growing recession fears, according to investment bank Goldman Sachs. As investors started to buy safe-haven debt, Germany's government borrowing costs fell to a five-week low. The U.S stock indexes fell on Wednesday as investors waited minutes from the Federal Reserve meeting to gauge the health of the economy and the pace of interest rate hikes in order to beat inflation. Oil prices were also knocked down by a soaring U.S. dollar, which rose to a near 20 year high against a basket of other currencies. A stronger ...
Updated: 07/06/2022
Service-oriented business survey shows fewer than expected
..., but the numbers over 50% are viewed as positive for the economy. A similar ISM survey of American manufacturers showed that business fell to a two-year low in June. The economy is decelerating because of high inflation, as the ISM surveys show. The Federal Reserve Federal Reserve is trying to tame the surge in prices by raising interest rates. A higher cost of borrowing makes it harder for the economy to buy a house or a car or take out a business loan. The central bank could cause the economy to go into ...
Updated: 07/06/2022
U.S. job openings fall less than expected in May
Washington Reuters - U.S. job openings fell less than expected in May, pointing out a still tight labor market that could keep the Federal Reserve on an aggressive monetary policy path as it battles high inflation. WASHINGTON Reuters - U.S. job openings fell less than expected in May, pointing out a still tight labor market that could keep the Federal Reserve Federal Reserve on an aggressive ...
Updated: 07/06/2022
Stocks struggle to direction as risk of recession looms
... the curve, even though the benchmark 10 year yield edged just above 2.82% to hover near its lowest level in about six weeks. The possibility of a deep economic downturn has spurred ongoing volatility in markets as investors weigh whether inflation and the Federal Reserve tightening cycle will reduce growth to the point of tipping the economy into a recession. Consumer sentiment to spending and purchasing managers' indices have softened or turned down in recent prints, and some key economic data, including consumer ...
Updated: 07/06/2022
Bank of England’s chief economist willing to speed up rate tightening
... Mann and Jonathan Haskel voted to raise rates by such a margin in the last meeting, but were outvoted by the majority, including Pill, who opted to stick with a smaller rise. Pill has not voted for a 0.5 point rise in his two years on the committee. The Federal Reserve raised rates by a margin of 0.75 percentage points last month, for the first time since 1994, and the European Central Bank indicated last month it would be open to a 0.5 percentage point rise in September. Pill, a former Goldman Sachs economist,...
Updated: 07/06/2022
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