The U.S. Federal Reserve will go for its fourth consecutive 75 basis point interest rate hike on Nov. 2, according to economists polled by Reuters, who said the central bank should not pause until inflation falls to around half its...
The IRS released inflation-adjusted marginal rates and brackets for 2023 on Tuesday, and many workers will see higher take-home pay in the new year as less tax is withheld from their paychecks. Additionally, the agency released the standard deduction for...
The Fed's interest rate hike is supposed to give housing industry a "reset," yet brings uncertainy. Fed Chair Powell said in effort to cool "red-hot" housing market, it takes a "difficult correction." Expert: Housing inventory will remain tight in the...
The firm will not be the last to come under pressure as economies wilt As interest rates rise and asset prices slump, investors are scrambling to identify the weakest links in the global financial system. Every bear market produces national...
The average interest rate on the most popular U.S. home loan climbed to its highest level since August 2008, data from the Mortgage Bankers Association (MBA) showed on Wednesday. Rising mortgage rates are increasingly weighing on the interest-rate-sensitive housing sector...
All eyes are on the Federal Reserve as the central bank kicks off a two-day policy meeting Tuesday, as officials are widely expected to raise short-term interest rates by three-quarters of a percentage point at the conclusion of their meeting...
Soaring consumer prices aren't fading as quickly as hoped. Inflation in August remained near 40-year highs, defying forecasts of a sharper decline and squeezing the budgets of millions of Americans who are struggling to cover basic costs like food, gas...
Crypto and related assets dropped Tuesday following the August inflation report that showed prices rose more than anticipated, signaling that the Federal Reserve is likely to hike interest rates by another 0.75% next week. Bitcoin dangled above its crucial $20,000...
The Federal Reserve is committed to bringing inflation down to its 2% goal, which means interest rates will continue to rise, Federal Reserve Chairman Jerome Powell said in a speech at a conference on Friday. But by how much more...
A look at the day ahead in U.S. and global markets from Mike Dolan. If the Federal Reserve was irked about a premature easing of financial conditions this summer, then it's successfully shut down the party. Fed chief Jerome Powell's...
Rent is the new gas. Surging rent prices – instead of gas – are now hitting consumers hard, according to data from Bank of America Institute. Median rent payments for Bank of America customers increased by 7.4% year over year...
Contract closings fell 5.4% in June, more than forecast Median selling price rose to a fresh record of $416,000 Sales of previously owned US homes fell in June to a two-year low as a surge in borrowing costs continues to...
Across the country, renters looking for new homes are facing dizzying double-digit rent increases. But you wouldn’t know it from the official federal tally of inflation data. In the last eight months, the rate of change in annual rental costs...
Bitcoin has lost around 58% of its value in the second quarter of 2022, its worst quarterly loss in more than a decade. This is the worst quarterly performance for bitcoin since the third quarter of 2011 when it lost...
The Nasdaq (^IXIC) and Russell 2000 (^RUT) are having their worst year ever. The Dow Jones Industrial Average (^DJI) is off to its worst start since 1962. And you'd have to travel back to 1970 for a worse first and...
