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Banking, Economy

“Fed’s Kashkari: 40% chance of needing ‘meaningfully’ higher rates”

“A “soft landing” for the U.S. economy is more likely than not, Minneapolis Federal Reserve Bank President Neel Kashkari said on Tuesday, but there is also a 40% chance that the Fed will need to raise interest rates “meaningfully” to… Continue Reading…

Stocks

“Meta [Facebook] shares pop 15% to 52-week high on guidance, sales increase”

“Meta shares gained more than 15% on Thursday, reaching a new 52-week high, as analysts and investors digested positive guidance for the upcoming fiscal quarter and an unexpected sales increase for the first quarter of 2023. The company reported strong… Continue Reading…

Economy

“Car insurance rates are expected to rise 8.4% in 2023…”

“Car insurance costs are on the rise in 2023. According to personal finance website ValuePenguin, insurance rates across the US are expected to rise by 8.4%, bringing the total average premium for full coverage to $1,780 per year. Pricier cars… Continue Reading…

Economy, Energy

“Why $4 per gallon gas this spring isn’t out of the question”

“Don’t look now, but gas prices are heading back up, and GasBuddy predicts the national average could hit $4 again in a couple of months. The price for a gallon of regular is up more than 13% nationally over the… Continue Reading…

Economy

“…8.7% Social Security cost-of-living increase starts in 2023…”

“…“Your Social Security benefits will increase by 8.7% in 2023 because of a rise in cost of living,” the Social Security Administration states in the annual statements it is currently sending to beneficiaries. The 8.7% increase will be the highest in 40… Continue Reading…

Economy

“Inflation: ‘No quick relief in rent increases,’ economist explains”

“Inflation has been a persistent nightmare, and rising rents nationwide are partly to blame. Unfortunately for renters, things are unlikely to get better this year. “No quick relief in rent increases,” Alan Detmeister, a senior economist at UBS, told Yahoo… Continue Reading…

Business, Stocks

“Kellogg shares jump on plans to separate into three companies”

“Kellogg announced Tuesday that it plans to separate into three independent public companies, sectioning off its iconic brands into distinct snacking, cereal and plant-based businesses. Shares of the company rose 6.5% in premarket trading on the announcement… Combined, Kellogg’s plant-based division… Continue Reading…

Economy

“Wholesale prices rose 10.8% in May, near a record annual pace”

“…The producer price index, a measure of the prices paid to producers of goods and services, rose 0.8% for the month and 10.8% over the past year. The monthly rise was in line with Dow Jones estimates and a doubling… Continue Reading…

Energy

“OPEC+ bows to pressure and agrees to increase size of oil output hikes by 50%”

“OPEC+ will increase the size of its oil-supply hikes by about 50 per cent, bowing to months of pressure from major consumers including the U.S. to help ease the pain of high energy prices. Ministers agreed on Thursday that the… Continue Reading…

Personal Finance

“Consumer complaints up 31% since 2018 about collection attempts for medical debt not actually owed, federal watchdog finds”

“For some consumers, medical debt they don’t even owe appears to ends up haunting them anyway. Complaints jumped 31% from 2018 to 2021 about debt collectors attempting to get consumers to fork over amounts that already were paid or otherwise… Continue Reading…