The U.S. housing market’s recession is over, Lawrence Yun, chief economist for the National Association of Realtors (NAR), said in a statement last week.
Tag: U.S. economy
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FED RAISES INTEREST RATE TO 22-YEAR HIGH
On 26 July, the U.S. Federal Reserve’s Open Market Committee voted unanimously to add another quarter point to its interest rates, raising them to 5.25 percent on deposits and 5.5 percent on loans, their highest since 2001.
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WAGE INCREASES SURPASSED INFLATION IN SECOND QUARTER: BIG DEAL?
In this year’s second quarter, U.S. workers got an actual raise... so says the U.S. government.
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U.S. ECONOMY GROWS FASTER THAN EXPECTED IN SECOND QUARTER
U.S. GDP expanded by a respectable 2.4 percent in this year’s second quarter, the commerce department reported.
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CONSENSUS BUILDS AROUND “SOFT LANDING,” END TO FED’S RATE HIKES
Analysts and investors are coalescing around the view that the U.S. Federal Reserve has tamed inflation without knocking the U.S. economy into a recession—creating a “soft landing”—and will end its series of interest rate increases, perhaps as soon as next month.
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GAMBLERS STEER CLEAR OF CONSUMER STOCKS
Equity investors are diverting money from consumer stocks that are likely to fare badly in a recession, indicating that market players are not fully convinced an economic downturn has been avoided.
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CORPORATE DEBT AT RISK AS INFLATION SLOWS
The U.S. Federal Reserve’s steady rise in interest rates has pulled inflation down to 3 percent in June, close to the central bank’s 2-percent target rate—but the economy may pay a price in a rising number of bad corporate loans.
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STOCK MARKETS SEND MIXED SIGNALS ABOUT THEIR FUTURE
In June, the Standard & Poor’s 500 index ended its longest bear market since the 1940s, The Wall Street Journal noted, and has leaped up 28 percent since then, ending 26 July at its highest close since April 2022.
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ECONOMIC UPDATE – MARKET OVERVIEW
The global economic slowdown has begun. The facts are in the figures. Leading the downtrend is China, the world’s #2 economy, whose leaders caused the socioeconomic decay when they launched the COVID War during their Lunar New Year in January 2020, “The Year of the Rat.” After imposing draconian zero-COVID policies for some three years, they have destroyed the lives and livelihoods of hundreds of millions across the nation.
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JPMORGAN BECOMES A GOLD BUG
With a recession still likely, gold’s price will break through $2,000 later this year and set new records in 2024 as the U.S. Federal Reserve begins cutting interest rates in next year’s second quarter, analysts at megabank JPMorgan Chase predicted.