According to Paul Gambles, managing partner at MBMG Group, the Fed is slow to cut rates. Traders are pricing in a 25-basis-point cut as early as March 2024. Veteran investor David Roche predicts that the Fed is finished raising rates and inflation will remain above 2%. To prevent a recession, portfolio manager Paul Gambles believes …
Former U.S. President Donald Trump’s ex-chief economic advisor, Gary Cohn, predicts that the Fed will not cut interest rates until the second half of 2024. Cohn emphasized that the U.S. economy is “back to normal,” but people have forgotten what normal feels like, based on 100-year average data. Gary Cohn, vice chairman of International Business …
Nationwide job market showing signs of a shift in power balance between workers and employers Union strikes from Detroit to Hollywood have proved the power of workers and changed the tide after decades of a weakened labor movement. However, the nationwide job market is showing signs that the post-pandemic era of worker control over wage …
President Joe Biden’s performance among small business owners has taken a nosedive, with the quarterly CNBC/SurveyMonkey Small Business Survey revealing a fresh low in his approval. The economy’s small business confidence, however, is showing a slight rebound in the fourth quarter. At the heart of this is a clear divide in economic perception between Republicans …
The Gorgon liquefied natural gas (LNG) and carbon capture and storage (CCS) facility, operated by Chevron Corp., on Barrow Island, Australia, on Monday, July 24, 2023. Bloomberg | Bloomberg | Getty Images The head of the International Energy Agency has urged the oil and gas industry to invest more in clean energy and abandon the …
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 7.86% from 7.90%. The ARM share of mortgage applications is now at the highest level in nearly a year. Applications for a mortgage to purchase a home fell 1% for the week and were 22% lower year …
The nine Republicans running for House Speaker The race to select the Republican nominee for House Speaker is heating up, with nine GOP candidates making their pitches before a party candidate forum on Monday evening. The GOP lawmakers will then hold an internal vote on Tuesday morning to choose their nominee, who could potentially face …
Housing prices are high, supply is tight and rates are surging. The housing market is scaring off both buyers and sellers. “A lot of people just want to sit tight and see what happens,” said one real estate agent. Today’s housing market is facing a daunting combination of soaring mortgage rates, exorbitant prices, limited supply, …
President Joe Biden is seeking a $105 billion security aid package for Ukraine, Israel, the U.S. southern border, and more. The request comes with Congress’ business at a standstill as House Republicans battle each other over who should be the speaker. The Biden administration on Friday requested more than $105 billion from Congress to support …
Standret | Istock | Getty Images According to the Federal Reserve’s triennial Survey of Consumer Finances, the typical family’s net worth experienced a significant surge during the pandemic era. This increase was primarily driven by higher home and stock prices, as well as government stimulus measures. After adjusting for inflation, median net worth increased by …