The financial distance between the richest and poorest Americans is continuing to widen and economists see nothing that will stop the trend, according to a new analysis by CNBC.
Tag: U.S. Federal Reserve
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IN SURPRISE REVERSAL, HOME SELLERS OUTNUMBER BUYERS
After more than three years in which desperate home buyers bid up the prices of the near-historically low number of homes for sale, in December, there were about 45 percent more households trying to sell their houses than people who bought homes, despite mortgage interest rates falling to their lowest in about three years.
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SPECIAL REPORT: GOLD, SILVER SET PRICE RECORDS
As Trends Journal subscribers will know, we called the bottom of gold in September 2023 when it was selling at $1,850 per ounce.
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A JUMP IN FOOD PRICES LED DECEMBER’S INFLATION PACE
U.S. inflation in December kept to November’s rate of 2.7 percent, the U.S. labor department reported, a figure that economists had forecast in a Wall Street Journal poll.
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METALS PRICES SOAR ON GEOPOLITICAL FEARS
On 14 January, the price of gold, silver, copper, and tin set new records as commodities investors and industrial users were shaken by the prospect of a hot war between the U.S. and Iran, uncertainties over Donald Trump’s plans for taking over Greenland, and fears for the U.S. Federal Reserve’s independence.
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BEWARE OF AI-DRIVEN INFLATION, INVESTMENT MANAGERS WARN
Global stock markets, still high on euphoria and fear of missing out over artificial intelligence (AI), may be ignoring a key and growing risk: a rise in inflation driven partly by the tech frenzy itself, money managers are warning.
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EXPECT THREE FED RATE CUTS BY JULY, MOODY’S CHIEF ECONOMIST SAYS
To counter labor market weakness and respond to political pressure, the U.S. Federal Reserve will cut a quarter point from its key interest rate three times by midyear, Mark Zandi, chief economist at Moody’s Analytics has forecast.
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U.S. MORTGAGE RATE FALLS BELOW 6 PERCENT
The average national interest rate on a 30-year, fixed-rate mortgage dropped to 5.99 percent Friday after Donald Trump posted on social media that he will mandate government-linked home loan agencies Fannie Mae and Freddie Mac to buy $200 billion in mortgage bonds.
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DOLLAR’S VALUE RETREATS AS WHITE HOUSE INVESTIGATES FED CHAIR
On 12 January, the U.S. dollar ended a five-day streak of gains in its value on news that Donald Trump’s justice department has opened a criminal investigation into Jerome Powell, chair of the U.S. Federal Reserve.
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‘ARE THESE NUMBERS REAL?’ ECONOMISTS WONDER
Last week, the Bureau of Labor Statistics (BLS) reported November’s inflation rate at 2.7 percent and core inflation, which filters out energy and food prices, at 2.6 percent, both reversing a rise in September.