The April gold futures contract on the New York Mercantile Exchange set a new record of $2,853.20 during trading on 30 January and closed the day at $2,845.20.
Tag: U.S. Federal Reserve
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FED STANDS PAT ON INTEREST RATES
At its meeting last week, the U.S. Federal Reserve’s Open Market Committee decided to hold its interest rates at their current levels amid a strong economy and labor market and inflation that refuses to surrender to the bank’s 2-percent target rate.
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U.S. ECONOMY GREW 2.8 PERCENT IN 2024
U.S. GDP expanded by 2.8 percent last year, the Commerce Department reported. The growth was smaller than 2023’s 3.2 percent but compared to much of the world, the U.S. economic growth is doing better than most.
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RECORD NUMBER OF CONSUMERS MAKING ONLY MINIMUM CREDIT CARD PAYMENTS
The proportion of credit card holders making only minimum payments rose to 10.75 percent in last year’s third quarter, the most since 2012, the Federal Reserve Bank of Philadelphia reported.
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TOP TRENDS: OFFICE BUILDING BUST, BANKS GO BUST
Take a look at the facts. While there is “big news” that President Donald Trump will force federal workers to return to the office, his demand accounts for nothing compared to the rest of the nation where remote work will remain a growing trend of the future.
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MORTGAGE RATE RISES BACK UP OVER 7 PERCENT
The average U.S. interest rate on a 30-year, fixed-rate mortgage rose to 7.04 percent during the week of 6 January, the Federal Home Loan Mortgage Corp. reported, the first time since May the rate has topped 7 percent.
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MORTGAGE RATES RISE TO HIGHEST IN SIX MONTHS
After falling to 6.2 percent in September, the average national interest rate on a fixed-rate, 30-year mortgage climbed back to 6.93 percent last week, its highest since July, the Federal Home Loan Mortgage Corp. reported.
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EMERGING NATIONS’ CURRENCY VALUES CRASH AGAINST STRONG DOLLAR
A surge in the U.S. dollar and a “confluence of bad news” has sunk the currencies of emerging nations to their lowest values since the U.S. Federal Reserve began raising interest rates in March 2022.
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U.S. ECONOMY ADDS 227,000 JOBS IN NOVEMBER
Employers took on another 227,000 workers in November, indicating a strong but not overheated jobs market.
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