The Federal Reserve, the central bank of the United States, held its key interest rate unchanged in its latest meeting. This decision by the Federal Reserve comes amidst a complex economic landscape, characterized by shifting inflation trends and evolving economic projections. Policymakers at the Federal Reserve indicated that only one rate cut is expected before…
Three U.S. senators have urged Federal Reserve Chair Jerome Powell to cut interest rates, arguing that high rates stifle the economy and raise housing and auto insurance costs, which are key inflation drivers. They warn that prolonged high rates risk a recession and increased unemployment, calling for immediate rate cuts to stabilize the economy. Senators…
Economist Henrik Zeberg says that the altcoin market is setting up for a parabolic run to new highs before the global economy witnesses a recession. Zeberg tells his 143,000 followers on the social media platform X that he’s looking at the TOTAL-ETH-BTC chart, which measures the entire market cap of crypto assets besides Bitcoin (BTC)…
Get Email Alerts and Follow Us: The Federal Reserve Open Market Committee (FOMC) is scheduled to convene next week on June 11-12, 2024. This highly anticipated meeting is expected to bring significant announcements regarding changes to interest rates. In addition to the rate decisions, the Fed’s statement, the release of the dot plot, and Chairman…
Get Email Alerts and Follow Us: The major economic highlight next week is the release of the Consumer Price IndexThe Consumer Price Index is a measure of the average price level of a basket of goods and services that are commonly consumed by households. More (CPI) report for May, scheduled for Wednesday, June 12, 2024….
Get Email Alerts and Follow Us: The mortgage market has reached a historic low, reminiscent of the early 2000s when people were still adjusting to writing the year with a “20” instead of a “19.” According to real estate data provider ATTOM Data, lenders issued only 1.28 million home loans of any kind in the…
The European Central Bank cut its key interest rate Thursday by a quarter point, moving ahead of the U.S. Federal Reserve as central banks around the world lean toward lowering borrowing costs – a shift with far-reaching consequences for home buyers, savers and investors. The ECB cut its benchmark rate to 3.75% from a record…
Get Email Alerts and Follow Us: The release of the May nonfarm payrolls report (next Friday, June 7, 2024) is crucial as it precedes a significant Federal Reserve meeting. This report could influence interest rate decisions, especially given the recent signs of a softening labor market. Economists predict 185,000 new jobs, with the unemployment rate…
Get Email Alerts and Follow Us: The latest report from the Bureau of Economic Analysis (BEA) shows a modest rise in consumer prices, with the Personal Consumption Expenditures (PCE) index increasing by 0.3% in April from March, resulting in a 2.7% year-over-year gain. Core inflation, excluding food and energy, rose by 0.2%, down from March’s…
Get Email Alerts and Follow Us: In April, the U.S. trade deficit expanded by 7.7% to $99.4 billion, the largest since June 2022, driven by a significant rise in imports, particularly in the auto sector. Imports grew by 3.1%, while exports only increased by 0.5%. Auto imports surged by 10.4%, whereas auto exports rose by…