The average 30-year fixed-rate mortgage rose to 7.4 percent, putting more pressure on Americans struggling to afford to buy a home.
Category: Inflation (Economics)
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Highest Mortgage Rates in 3 Years Chills the Housing Market
The New York Times – Business: -
A Top Fed Official Casts Further Doubt on a Rate Rise This Month
The New York Times – Business:The Federal Reserve is poised to raise interest rates further as it seeks to tame inflation, but that is unlikely to happen until the end of the year.
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Fed Minutes Show Officials Saw More Work to Do to Quell Inflation
The New York Times – Business:Policymakers grew increasingly concerned about inflation risks at their most recent meeting in September.
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High Interest Rates Aren’t Slowing the A.I. Boom. That’s a Problem for the Fed.
The New York Times – Business:Rising borrowing costs are taking a toll on households and businesses. But they are doing little to dampen enthusiasm for investments in A.I. infrastructure, which are contributing to inflation.
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Trump Says Economy Has ‘Public Relations’ Problem Amid High Prices and Slow Hiring
The New York Times – Business:The president, who had hoped to tout a growing economy on the campaign trail, has found it hard to break through as workers’ wages fail to keep up.
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U.S. and Allies Agree to Release Diesel Reserves as Prices Soar
The New York Times – Business:The Group of 7, which includes Britain, France, Japan and others, announced the release of 100 million barrels over four months, effective immediately.
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The Powerful Yet Fragile Force Propping Up Stocks and the Economy
The New York Times – Business:The artificial intelligence boom has pushed up the stock market, even as interest rates have pulled it down, our columnist says.
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Trump’s Threat to Ban Diesel Exports Sets Off Global Alarms
The New York Times – Business:A reduction in refineries has already driven the price of diesel to record highs, threatening economies. An U.S. export ban would be “tremendous shock and blow.”
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U.S. Bond Yields Hit Highest Level Since 2002
The New York Times – Business:The trends pushing up yields, including the war in Iran and high government debt levels, are unlikely to dissipate soon.
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The Global Bond Rout Reaches Worrying New Levels
The New York Times – Business:Investors are on alert as the yield on the 10-year Treasury note hit a new multi-decade high. The sell-off is also broadening in Europe, too.
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Fed’s Watchdog Finds No Misconduct or Illegal Activity in Costly Renovations
The New York Times – Business:A new report by the Federal Reserve’s independent inspector general concluded that a nearly $2.5 billion construction project was poorly managed but made no referrals to the U.S. attorney general.
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Fed’s Preferred Inflation Gauge Points to Continued Price Pressures
The New York Times – Business:The Personal Consumption Expenditures price index showed little sign of easing in August.