The Centers for Disease Control and Prevention is expected to clear Moderna‘s two-dose Covid-19 vaccine for kindergartners through high schoolers for public distribution this week after the agen...
Tag: U.S. Economy
Demand for adjustable-rate mortgages surges, as interest rates jump
Mortgage applications to purchase a home rose 8% last week compared with the previous week, bolstered in part by demand for adjustable-rate mortgages, according to the Mortgage Bankers AssociationR...
Sales of existing homes fell in May, and more declines are expected
Sales of existing homes in May dropped 3.4% to a seasonally adjusted annualized rate of 5.41 million units, according to the National Association of Realtors. Sales were 8.6% lower than in May 2021. A...
Here’s why this housing downturn is nothing like the last one
As quickly as mortgage rates are rising, the once red-hot housing market is cooling off. Home prices are still historically high, but there is concern now that they will ease up as well. All of this h...
Inflation the biggest poison for the world economy
Christian Sewing, Chief Executive Officer of Deutsche Bank, attends a session at the 50th World Economic Forum (WEF) annual meeting in Davos, Switzerland, January 23, 2020. Denis Balibouse | Reuters E...
Another Major International Bank Forecasts Recession In The U.S.
Topline Japanese investment bank Nomura on Monday became the latest bank to predict an oncoming recession in the U.S. economy sometime later this year—joining the likes of Deutsche Bank and Morgan Sta...
Treasury Secretary Janet Yellen says recession isn’t ‘inevitable
U.S. Treasury Secretary Janet Yellen testifies before a House Ways and Means Committee hearing on President Biden’s proposed 2023 U.S. budget, on Capitol Hill in Washington, June 8, 2022. Jonath...
CDC advisors recommend Covid vaccines for children as young as 6 months
A child is administered a dose of the Pfizer-BioNTech coronavirus disease (COVID-19) pediatric vaccine. Mayela Lopez | Reuters The Centers for Disease Control and Prevention’s independent vaccin...
‘The pain will go on’
Ray Dalio, Bridgewater Associates, Founder, Co-Chairman & Co-CIO, at the WEF in Davos, Switzerland on May 24th, 2022. Adam Galica | CNBC Billionaire investor Ray Dalio is right to have bet against...
Here’s what the Fed’s highest rate hike in 28 years means for you
What the federal funds rate means to you The federal funds rate, which is set by the central bank, is the interest rate at which banks borrow and lend to one another overnight. Although that’s n...
Fed members predict more hikes with the benchmark rate above 3% by year-end
U.S. Federal Reserve Chairman Jerome Powell testifies during the Senate Banking Committee hearing titled “The Semiannual Monetary Policy Report to the Congress”, in Washington, U.S., March...
Homebuilder sentiment drops to lowest level in 2 years as housing demand slows
A contractor frames a house under construction in Lehi, Utah, U.S., on Wednesday, Dec. 16, 2020. Private residential construction in the U.S. rose 2.7% in November. George Frey | Bloomberg | Getty Ima...
Here’s how recessions became an inevitable part of American economy
The U.S. has experienced at least 30 recessions throughout history, dating back as early as 1857. Some economists argue that they may have become an inevitable part of the financial cycle that fluctua...
FDA committee recommends Moderna two-dose Covid vaccine for kids ages 6 to 17
A young man receives his Covid-19 vaccination at a vaccination clinic. People receive the Moderna vaccine in Milford, Pennsylvania. Preston Ehrler | LightRocket | Getty Images Moderna’s two-dose...
30-year mortgage rate surges to 6.28%, up from 5.5% just a week ago
Jb Reed | Bloomberg | Getty Images Mortgage rates jumped sharply this week, as fears of a potentially more aggressive rate hike from the Federal Reserve upset financial markets. The average rate on th...
Real estate firms Compass and Redfin announce layoffs as housing market slows
Real estate firms Redfin and Compass are laying off workers, as mortgage rates rise sharply and home sales drop. In filings with the Securities and Exchange Commission, Compass announced a 10% cut to ...
FDA decision on Novavax’s Covid shots could be delayed
A health worker prepares a dose of the Novavax vaccine as the Dutch Health Service Organization starts with the Novavax vaccination program on March 21, 2022 in The Hague, Netherlands. Patrick Van Kat...
‘Yellowstone’ boom pits lifetime Montana residents against wealthy newcomers
“Yellowstone” has become one of the hottest shows streaming. Filmed on location in the West, much of it in Montana, the scripted drama tells the story of a modern day ranch owner John Dutt...
Novavax faces high-stakes FDA review this week that will decide the fate of its Covid vaccine in the U.S.
In this photo illustration the Food and Drug Administration (FDA) and Novavax logos are seen behind a medical syringe and vials. Pavlo Gonchar | LightRocket | Getty Images Novavax’s Covid-19 vac...
U.S. has more than 36,000 Jynneos vaccine doses available in stockpile
The United States has more than 36,000 doses of the Jynneos monkeypox vaccine immediately available in the strategic national stockpile, the Health and Human Services Department said Monday. The Cente...
These charts show state of supply chain as China eases Covid lockdowns
Zoom In IconArrows pointing outwards The CNBC Supply Chain Heat Map for China, which is gradually easing Covid lockdowns, is showing several hot spots slowing down trade flow in recent days. ChinaR...
Why the global soil shortage threatens food, medicine and the climate
Soil can be considered black gold, and we’re running out it. The United Nations declared soil finite and predicted catastrophic loss within 60 years. “There are places that have already lo...
Abbott Nutrition restarts baby formula production in reopened Michigan plant
Shelves normally meant for baby formula sit nearly empty at a store in downtown Washington, DC, on May 22, 2022. Samuel Corum | AFP | Getty Images Abbott Nutrition on Saturday resumed baby formula pro...
The CDC is sending monkeypox vaccines to people at high risk in a race to prevent the spread
Test tubes labelled “Monkeypox virus positive and negative” are seen in this illustration taken May 23, 2022. Dado Ruvic | Reuters The Biden administration has distributed 1,200 monkeypox...
U.S. monkeypox cases have more than doubled in a week to 20, CDC says
The World Health Organization has said that there is a “window” of opportunity to contain a recent monkeypox outbreak which has seen cases spread across Europe, the U.S. and Australia. Nur...
How the U.S. Space Force plans to police outer space
Outer space is getting crowded, with both commercial endeavors and secretive military projects. And it’s going to be up to the newest United States military branch, the Space Force, to protect A...
Vaccinations for children under 5 due as early as June 21
A nurse administers a pediatric dose of the Covid-19 vaccine to a girl at a L.A. Care Health Plan vaccination clinic at Los Angeles Mission College in the Sylmar neighborhood in Los Angeles, Californi...
Reckitt baby formula plants can produce 21 million bottles for U.S.
Robert Cleveland, senior vice president of nutrition for North America and Europe at Reckitt, speaks via video conference during a House Commerce Subcommittee hearing in Washington, D.C., on Wednesday...
Mortgage rates rise sharply after three weeks of easing
A “For Sale” sign outside a house in Crockett, California, on Tuesday, May 31, 2022. David Paul Morris | Bloomberg | Getty Images Mortgage rates rose sharply this week, after pulling back ...