Economy

“Fed’s Kashkari wants to see ‘many more months’ of positive inflation data before a rate cut”

“…The Federal Reserve should wait for significant progress on inflation before cutting interest rates, Minneapolis Federal Reserve President Neel Kashkari told CNBC on Tuesday. Asked what conditions were needed for the Fed to cut rates once or twice this year, Kashkari… Continue Reading…

Economy, Real Estate

“Skyrocketing rents and home prices may be pivotal in the 2024 election”

“…Housing is largely a local issue, yet it’s presenting a challenging and complex problem in Nevada and other battleground states with implications for this year’s race between President Biden and former president Donald Trump. Biden has proposed specific policies and… Continue Reading…

Economy

“Macy’s beats low Q1 estimates as it weighs between a turnaround and a buyout”

“…On Tuesday morning, the department store chain reported revenue of $4.85 billion, down 2.7% compared to last year and slightly higher than Wall Street’s estimates of $4.81 billion. Its adjusted earnings per share of $0.27 also topped the $0.14 expected.… Continue Reading…

Economy

“Florida’s 125% Surge in Property-Insurance Bills Sows Havoc”

“…In the five-year period ending 2023, costs surged 125%. Last year, annual premiums soared about 27% in the state — for the second year in a row — while nationwide the growth rate slowed to nearly 6% from about 15%,… Continue Reading…

Economy

“Americans are down on the economy (again), with inflation topping election concerns”

“…Consumer sentiment, a gauge of Americans’ economic perceptions, is at a six-month low, according to a closely watched index by the University of Michigan. The measure notched its biggest drop since 2021, reflecting the persistent tug of inflation on household… Continue Reading…

Economy

“China Sells Record Sum of US Debt Amid Signs of Diversification”

“…Beijing offloaded a total of $53.3 billion of Treasuries and agency bonds combined in the first quarter, according to calculations based on the latest data from the US Department of the Treasury. Belgium, often seen as a custodian of China’s… Continue Reading…

Economy

“US Inflation Data Was Accidentally Released 30 Minutes Early”

“The US Bureau of Labor Statistics inadvertently published Consumer Price Index data 30 minutes early on Wednesday, raising fresh questions about how the agency releases some of the world’s most sensitive economic information…” https://finance.yahoo.com/news/us-inflation-data-accidentally-released-034145035.html Was it an accident or was… Continue Reading…

Economy, Stocks

“All 3 major stock indexes close at record highs as inflation slows down”

“…The Dow Jones Industrial Average, S&P 500 and Nasdaq composite all rallied Wednesday after the Labor Department reported inflation falling to a 3.4 percent annual rate in April after a 0.3 percent monthly increase in prices, according to the consumer… Continue Reading…