Nearly half of all credit-card users say they’re carrying debt each month — and 60% of people with credit-card debt have owed money for at least a year, according to a new report from Bankrate’s Credi...
Tag: Economic News
Wharton’s Jeremy Siegel accuses Fed of making one of the biggest policy mistakes in its 110-year history
““I think we’re giving Powell too much praise. … The last two years are one of the biggest policy mistakes in the 110-year history of the Fed by staying so easy when everything was booming.”” — Jeremy...
Goldman Sachs Just Lowered Its S&P 500 Price Target. How Low It Could Go.
Text size Traders working at the New York Stock Exchange (NYSE), today, Thursday, June 16, 2022. NYSE Goldman Sachs finally decided to stop fighting the Fed and lowered its year-end forecast for the S...
A historic global bond-market crash threatens the liquidation of world’s most crowded trades, says BofA
Global government-bond markets are stuck in what BofA Securities strategists are calling one of their greatest bear markets ever — which, in turn, is threatening the ease with which investors will be ...
Josh Brown: ‘If people don’t get fired, then it’s not a recession’
““You can’t have a recession if people still have their jobs and have no problem getting their next job. So I don’t care what the NBER says. … If people don’t get fired, then it’s not a recession.”” T...
These Are the 7 Worst Housing Markets, According to Lennar
Higher mortgage rates have cut into home sales at a national level—but, as the saying goes, all real estate is local. Lennar , the nation’s second-largest builder by market capitalization, on Thursda...
‘The housing market may have to go through a correction’: Mortgage rates hit 6.29%, Freddie Mac says
The numbers: U.S. mortgage rates continue to climb, adding hundreds of dollars in costs to potential homeowners. The increase in mortgage rates followed the Federal Reserve hiking interest rates again...
The Stock Market Is Getting Crushed Again. But the Pain Is Almost Over.
Text size The Fed is trying to stamp out inflation by reducing economic demand, which is hurting the stock market. Michael M. Santiago/Getty Images The stock market has once again gone into selloff mo...
CD rates are higher, but should you put your cash in them? Consider your goals.
This article is reprinted by permission from NerdWallet. The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor...
Yen rallies after Japan unilaterally intervenes for first time in 24 years
The dollar dropped sharply against the Japanese yen on Thursday, in the first intervention to support its currency since 1998, after the Bank of Japan bucked the trend of other central banks by not hi...
Ray Dalio says stocks, bonds have further to fall, sees U.S. recession in 2023
As the world waits for the Federal Reserve to deliver what’s expected to be its third “jumbo” interest-rate hike, Bridgewater Associates founder Ray Dalio shared a warning for anybody still hanging on...
The Fed raised rates — retirees and near-retirees should do this
Retirees have to watch their spending, especially after the Federal Reserve’s latest rate hike announced on Wednesday. For the third time in a row, the Federal Reserve said on Wednesday it would rais...
Brace yourselves, the Fed is about to inflict ‘some pain’ to fight inflation — here’s how to prepare your wallet and portfolio
The Fed is ready to bring the pain. Are you prepared? Weeks ago, Federal Reserve Chair Jerome Powell cautioned there would be “some pain to households and businesses” as the central bank jacks up inte...
The Fed just ‘went big’ on its rate hike. Here’s who’s likely getting a financial boost from that — and ‘at levels last seen in 2009’
With rates on CDs now well above 0.60%, experts agree that sticking with a longer-term plan is the best way to get the biggest bang for your dollar. Getty Images/iStockphoto In its efforts to reign in...
Fed approves third large interest rate hike and signals more before year-end
The Federal Reserve on Wednesday stepped up its aggressive fight against high inflation by agreeing to the third straight super-sized increase in interest rates and signaling more big hikes before the...
Home values in August saw their largest monthly decline since 2011. Some cities see house prices drop by 3%.
Home values are edging down as buyers remain spooked by high mortgage rates, according to a new report. The typical value of a home in the U.S. fell 0.3% in August from the previous month, according t...
4 things to watch when the Fed delivers its rate-hike decision
The Federal Reserve is raising rates on Wednesday. That much is certain. Beyond that, there are weighty questions about whether the central bank’s efforts to bring down inflation can succeed without c...
‘Disinflationary wave is building’ even as investors anticipate aggressive Fed rate increase, says this economist
Signs of disinflation have emerged even as investors fear Federal Reserve Chair Powell and his colleagues will keep battling inflation through aggressive rate hikes that have hurt both stocks and bond...
Why investors fear a full-percentage-point Fed rate hike would ‘unnerve’ Wall Street
The Fed has delivered two 75 basis point interest-rate hikes so far this year. A previous version of this story said it had delivered three. With both U.S. stocks and bonds under pressure on Tuesday, ...
Amazon and Other Growth Stocks Have Been Hammered. Get Ready to Buy.
Text size Amazon shares are down 27% for the year. Mark Makela/Getty Images Growth stocks have been crushed this year, but several indicators point to a recovery soon—and investors should get ready to...
Fearing a hawkish Fed? Here’s what’s likely limiting more downside in the stock market, according to JPMorgan’s Marko Kolanovic.
The stock market has been under pressure since the inflation report for August came in surprisingly strong last week, but JPMorgan Chase & Co.’s chief market strategist, Marko Kolanovic, doesn’t s...
‘Some companies are closing their doors, others are shutting down divisions’: Rocket CEO outlines plans to navigate the dramatic decline in mortgages
The mortgage industry is struggling with higher rates and a sharp drop in buyer demand. Rocket RKT, +0.53% says it’s got a plan to turn things around. There’s turmoil in the sector. Volume of originat...
Zillow sees peak rent growth as over, but that isn’t what the Fed’s tracking
A look at Zillow Group’s closely followed rent index shows that last year’s roughly 17% yearly surge in rental prices was probably the peak, with the rate of increases dramatically receding in the pas...
How to Survive the Next Market Crash
Jerome Powell and the Federal Reserve might be in the process of driving the stock market over a cliff by tightening into a recession. That is one potential scenario envisioned by fund manager Mark Sp...
Fed to put a ‘firm foot on the brake pedal’ this week
The Federal Reserve is widely expected this week to raise its benchmark interest rate by 0.75 percentage points in an effort to slow the economy as a way to cool inflation. “What the Fed was doing ear...
Dow Futures Fall as Wall Street Anticipates Another Big Rate Hike From the Fed
Text size AFP via Getty Images Stock futures traded lower Monday in a week that is expected to see the Federal Reserve raise interest rates by another three-quarters of a point in its effort to stamp ...
Buy I Bonds Now at 9.6%. A New Rate Comes in November.
Text size The rate on I bonds hit a record 9.6% for bonds purchased starting in May and continuing through the end of October. Dreamstime One of the best current deals in the bond market—Treasury Seri...
Bulls Get Scorched by FedEx. Don’t Expect the Fed to Help.
Text size FedEx’s disappointing earnings and unexpectedly weak guidance were key factors in this past week’s stock market swoon. David Paul Morris/Bloomberg The stock market faces a doubly poisonous c...
If you’re selling stocks because the Fed is hiking interest rates, you may be suffering from ‘inflation illusion’
Forget everything you think you know about the relationship between interest rates and the stock market. Take the notion that higher interest rates are bad for the stock market, which is almost univer...