A sign hangs at Silicon Valley Banks headquarters in Santa Clara, California on March 10, 2023. Noah Berger | AFP | Getty Images Billionaire investor Bill Ackman said the U.S. government’s actio...
Tag: U.S. Economy
Goldman Sachs no longer expects the Fed to hike rates in March
Goldman Sachs logo displayed on a smartphone. Omar Marques | SOPA Images | LightRocket via Getty Images Goldman Sachs no longer sees a case for the Federal Reserve to deliver a rate hike at its meetin...
Mortgage demand recovers slightly, despite rising rates
A “For Sale” sign outside of a home in Atlanta, Georgia, on Friday, Feb. 17, 2023. Dustin Chambers | Bloomberg | Getty Images After dropping to a 28-year low the previous week, mortgage de...
No exit ramp for Fed’s Powell until he creates a recession, economist says
Federal Reserve Chair Jerome H. Powell testifies before a U.S. Senate Banking, Housing, and Urban Affairs Committee hearing on “The Semiannual Monetary Policy Report to the Congress” on Ca...
BlackRock says the Federal Reserve could hike interest rates to a peak of 6%
Rick Rieder, managing director and chief investment officer of fundamental fixed income for BlackRock Inc., speaks during the Institute of International Finance Annual Membership Meeting in Washington...
European companies showing ‘surprise resilience’ — and better value than the U.S.
A trader works as a screen displays the trading information for BlackRock on the floor of the New York Stock Exchange (NYSE) in New York City, October 14, 2022. Brendan McDermid | Reuters LONDON — Eur...
How China’s shifting growth picture could hit global markets
A shopping mall in Qingzhou, Shandong province, broadcasts the opening ceremony of China’s National People’s Congress on Sunday, March 5, 2023. Future Publishing | Future Publishing | Gett...
Full-time office work is ‘dead,’ economist says
Morsa Images | Digitalvision | Getty Images Workers and companies see benefits of remote work In 2019, about 5% of full-time work was done from home. The share ballooned to more than 60% in April and ...
Mortgage demand falls as interest rates rise
A potential buyer with her realtor view a home listed for sale during an open house in Parkland, Florida. Carline Jean | Tribune News Service | Getty Images Mortgage rates moved higher again last week...
Black real estate developers get access to big capital
Black Americans represent less than 5% of residential real estate developers, largely because they can’t get equal access to capital, according to a recent report by the Urban Land Institute. In...
Home price gains weakened sharply to end 2022: S&P Case-Shiller
A “For Sale” sign in front of a home in Roseville, California, on Dec. 6, 2022. David Paul Morris | Bloomberg | Getty Images Higher mortgage rates weighed on home price gains at the end of...
OECD says global economic outlook ‘slightly better’ for 2023
People shop near prices displayed in a supermarket on February 13, 2023 in Los Angeles, California. Mario Tama | Getty Images News | Getty Images OECD Secretary-General Mathias Cormann said the globa...
Popular ETF strategy shift may benefit investors
With Wall Street jitters increasing over the number of interest rate hikes ahead, VettaFi’s Todd Rosenbluth sees signs of a comeback in managed fixed-income exchange-traded funds. “It̵...
Senators urge Medicare to cover Alzheimer’s treatments
U.S. senators on Friday called for Medicare to offer broad coverage of Alzheimer’s treatments approved by the Food and Drug Administration, warning that current restrictions cost patients precio...
Maker of Alzheimer drug Leqembi expects FDA’s full approval this summer
Tek Image/science Photo Library | Science Photo Library | Getty Images Japanese drugmaker Eisai expects the Food and Drug Administration to fully approve its Alzheimer’s treatment Leqembi this s...
U.S. stocks don’t seem bothered by inflation
People walk along 5th Avenue in Manhattan, one of the nation’s premier shopping streets on February 15, 2023 in New York City. Spencer Platt | Getty Images News | Getty Images This report is fro...
U.S. stocks don’t seem concerned about inflation
People walk along 5th Avenue in Manhattan, one of the nation’s premier shopping streets on February 15, 2023 in New York City. Spencer Platt | Getty Images This report is from today’s CNBC...
Opioid overdose treatment Narcan recommended by FDA advisors for over-the-counter use
The Food and Drug Administration’s independent advisors on Wednesday unanimously recommended over-the-counter use of the nasal spray Narcan to reverse opioid overdoses, which would significantly...
Moderna CEO Bancel will testify before Senate on Covid vaccine price hike
Moderna CEO Stephane Bancel will testify before the Senate health committee in March over the company’s plans to hike the price of its Covid-19 vaccine. Sen. Bernie Sanders, chair of the health ...
Homebuilder sentiment in February sees biggest gain in decade
America’s homebuilders are growing more bullish as buyer demand picks up, driven in part by slightly lower mortgage rates. Homebuilder confidence in the market for newly built single-family home...
Mortgage demand drops as interest rates bounce higher
A ‘for sale’ sign hangs in front of a home on June 21, 2022 in Miami, Florida. Joe Raedle | Getty Images After falling for five straight weeks, mortgage rates jumped last week, triggering ...
US, China spy balloon drama is drifting into supply chain politics
The suspected Chinese spy balloon drifts to the ocean after being shot down off the coast in Surfside Beach, South Carolina, U.S. February 4, 2023. Randall Hill | Reuters The tensions between the U.S...
U.S. inflation is ‘far stickier’ and could last a decade
U.S. inflation is likely to be “far stickier” and could last a decade, according to Bill Smead, chief investment officer at Smead Capital Management. Wall Street is gearing up for key infl...
States says pulling FDA approval would be ‘devastating’
The attorneys general from 21 states and Washington, D.C., on Friday argued that the attempt to pull the abortion pill from the U.S. market would have “devastating consequences” for women....
Air Force’s aging AWACS stirs questions of airborne-battle readiness
As the recent Chinese spy balloon encounter showed, keeping the skies safe is a tough job. For decades the U.S. Air Force has relied on the E-3 Sentry, and the most recent version, the E-3G, has been ...
What’s happening with home prices as mortgage rates fall
An aerial view from a drone shows homes in a neighborhood on January 26, 2021 in Miramar, Florida. According to two separate indices existing home prices rose to the highest level in 6 years. Joe Raed...
The Covid emergency in the U.S. ends May 11. HHS officials say here’s what to expect
People walk past a COVID-19 walk up testing site on July 28, 2022 in New York City. Liao Pan | China News Service | Getty Images The Health and Human Services Department on Thursday laid out what will...
Biden proposal to cap all insulin prices at $35 a month has little chance of passing Congress
President Joe Biden delivers the State of the Union address to a joint session of Congress on Feb. 7, 2023 Pool | Getty Images President Joe Biden used the bully pulpit during the State of the Union a...