Tag: jun 29 2021

In April, about 649,000 retail employees quit their jobs, the U.S. labor department reported, the largest one-month exodus since the department began keeping records more than 20 years ago.  Stores’ ex-workers are finding higher pay and better benefits at insurance agencies, fitness centers, government offices, and even marijuana dispensaries, Business Insider reported; others are returning...

Blackstone, the world’s richest asset management company, has agreed to pay $6 billion to buy Home Partners of America, a company that owns about 17,000 rental houses across the U.S., The Wall Street Journal reported. Blackstone entered the rental housing business after the Great Recession, forming Invitation Homes as a subsidiary that bought tens of...

The median price of a single-family home in the U.S. reached a record $350,000 in May, rising from the previous record of $341,600, set the month before, the National Association of Realtors (NAR) reported. Prices have increased 24 percent in the last 12 months, the fastest year-on-year gain since 1999 when the NAR began keeping...

U.S. government spending is about to collide with the Congressionally-mandated limit on the national debt and the treasury will no longer be able to pay the country’s bills some time in August unless legislators raise the limit before their August recess, Treasury Secretary Janet Yellin warned in testimony before Congress on 23 June. Because lingering...

Officials of the U.S. Federal Reserve aired their differing views last week about when the Fed should raise interest rates or cut back its $120-billion-a-month bond-buying program. The U.S. Federal Reserve will need to raise interest rates late in 2022, not in 2023 as bank officials determined at their meeting earlier this month, Raphael Bostic,...

The U.S. economic recovery has peaked and, beginning in July, will moderate as shortages and inflation curb consumer spending, Bank of America (BOA) said in an 18 June research note. The GDP expanded 11 percent in this year’s second quarter, will grow by 9 percent in the third quarter, and 5 percent in the fourth,...