Mortgage rates have climbed above 7% for the first time since 2001, but that’s only half the story of the affordability crisis. Years of under-building have led to a massive shortage of housing. Economists explained what’s behind the shortage and what could come next for US housing. Loading Something is loading. Thanks for signing up!… Continue reading Soaring mortgage rates get all the attention, but a decade of underinvestment in housing is the big culprit behind the country’s affordability crisis
Ark Invest owns a private stake in Twitter via its venture fund as Cathie Wood talks up its ‘Super App’ potential
Cathie Wood’s Ark Invest bought a private stake in Twitter after Elon Musk acquired the company.The about $1 million stake makes up about 12% of Ark Invest’s new venture capital fund “We have high conviction in Elon Musk’s ability to transform Twitter into a more valuable platform for users and advertisers,” Ark Invest said. Loading Something… Continue reading Ark Invest owns a private stake in Twitter via its venture fund as Cathie Wood talks up its ‘Super App’ potential
German utility giant Uniper posts record 40 billion euro loss as Russia’s gas shutoff ‘scars’ its results
Germany’s Uniper posted a record 40 million euro ($39.3 billion) loss for the first 9 months of 2022. Russia choked off gas flows to Germany, forcing the utility giant to buy new supply at higher prices. The net loss comes after half-year figures showed “massive scars” in Uniper’s results, its CFO said. Loading Something is… Continue reading German utility giant Uniper posts record 40 billion euro loss as Russia’s gas shutoff ‘scars’ its results
US stocks continue sell-off after Fed Chair Jerome Powell signals rates may peak at a higher level than expected
Brian Evans Getty Images US stocks opened lower Thursday as the sell-off from a day earlier continued. The US dollar and bond yields both gained with investors seeking cover. On Wednesday, Fed chief Jerome Powell squashed hopes of a policy pivot following another jumbo rate hike. Loading Something is loading. Thanks for signing up! Access… Continue reading US stocks continue sell-off after Fed Chair Jerome Powell signals rates may peak at a higher level than expected
Chinese central banker says the yuan will be stable, while the Fed’s latest rate hike sends the currency near a 15-year low
The Federal Reserve and Bank of England both made 75-basis-point interest rate hikes this week. China, however, has kept relatively loose monetary policy, compared to Western economies. The yuan slipped 0.4% to 7.3166 Thursday, nearing the 15-year low of 7.33 which it hit on Tuesday. Loading Something is loading. Thanks for signing up! Access your… Continue reading Chinese central banker says the yuan will be stable, while the Fed’s latest rate hike sends the currency near a 15-year low
The Fed could signal a 75 basis point interest rate hike in December and then a pause to see what happens, Ed Yardeni says
The Fed is likely to hike rates by 75 basis points in December and then pause, says Ed Yardeni. Yardeni believes the Fed wants to front-load rate hikes as inflation is still a problem in the US. He added that the Fed will raise rates into restrictive territory to see how it impacts inflation. Loading… Continue reading The Fed could signal a 75 basis point interest rate hike in December and then a pause to see what happens, Ed Yardeni says
Americans’ pandemic savings will make it much tougher for the Fed to cool inflation, Wells Fargo says
US households have around $1.2 trillion in pandemic savings, according to Wells Fargo. But that could be bad for the Federal Reserve’s inflation battle, the bank warned. Companies will keep hiking prices as long as Americans have savings to dip into, strategists said. Loading Something is loading. Thanks for signing up! Access your favorite topics… Continue reading Americans’ pandemic savings will make it much tougher for the Fed to cool inflation, Wells Fargo says
Investors are bracing for another huge rate hike from the Fed. Here’s why it’s a critical moment for markets and the US economy.
Investors are bracing for the Fed to announce another huge interest-rate hike on Wednesday. Fed Chair Jerome Powell is set to discuss the inflation threat and the risk of a recession. Here’s why the rate decision and guidance will be critical for markets and the economy. Loading Something is loading. Thanks for signing up! Access… Continue reading Investors are bracing for another huge rate hike from the Fed. Here’s why it’s a critical moment for markets and the US economy.
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