US Inflation Spikes to 8.2%
Inflation in the United States accelerated in September, with the cost of housing and other necessities intensifying pressure on households, wiping out pay gains that many have received and ensuring that the Federal Reserve will keep raising interest r…
Mortgage Interest Rates Rise To Highest Level Since 2006
The average interest rate on the most popular U.S. home loan rose to its highest level since 2006 as the housing sector continued to bear the brunt of tightening financial conditions, data from the Mortgage Bankers Association (MBA) showed on Wednesday.
Markets Rocked as $46 Trillion have been wiped out in past year
It’s been a tough year for investors, with global stock and bond markets erasing $46.1 trillion in market value since November 2021, according to Bank of America.
Federal Reserve Predicts Economy Will Slow to a Crawl, Hikes Interest Rate Again
The Federal Reserve raised its target interest rate by three-quarters of a percentage point to a range of 3.00%-3.25% on Wednesday and signaled more large increases to come in new projections showing its policy rate rising to 4.40% by the end of this y…
Biden has passed 99 executive orders that have cost taxpayers $1.5 trillion dollars
President Biden has passed 99 executive orders since becoming president and a federal budget expert has estimated that the cost to taxpayers will be upwards of $1.5 trillion, with his recent student loan forgiveness accounting for a huge portion of tha…
Household debt exceeds $16 trillion in second quarter of 2022
Total household debt increased by $312 billion (2%) to $16.15 trillion in the second quarter of 2022, the Federal Reserve Bank of New York’s Center for Microeconomic Data said in its Quarterly Report published Tuesday.
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