WASHINGTON—The number of Americans applying for unemployment benefits came back down last week, hovering near levels suggesting the U.S. labor market has been largely unaffected by the Federal Reserve’s aggressive interest rate hikes. Applications for jobless aid fell to 225,000 for the week ending Nov. 26, a decline of 16,000 from the previous week’s 241,000,…
Yen, Pound Hit Strongest in Three Months on Powell Remarks on Fed Slowing
LONDON—The dollar weakened to three-month-lows against the yen and the pound on Thursday, after comments by Fed Chair Jerome Powell that U.S. rate hikes could be scaled back “as soon as December,” but the euro failed to climb past a major resistance level. The aggressive pace of U.S. Federal Reserve rate increases this year has…
Oil Rises Ahead of OPEC+ Meeting, Easing China COVID-19 Curbs Lend Support
December 1, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil rose on Thursday supported by investor wariness that OPEC+ may cut supply further at its meeting on Sunday and as easing COVID-19 curbs in China raised hopes about higher demand in the world’s top crude importer. Crude gained further support, and the U.S. dollar weakened, after the Federal Reserve Chair opened the door to…
Appeals Court Denies Biden’s Bid to Revive Student Debt Bailout
December 1, 2022
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Business & Marketscourteconomic policieseconomyExecutive BranchJoe BidenJudiciarypersonal financePoliticsstudent loanUSUS News
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A federal appeals court has rejected the Biden administration’s bid to freeze a Texas judge’s ruling that President Joe Biden’s plan to cancel student loan debt was illegal. In a Nov. 30 ruling, the New Orleans-based 5th U.S. Circuit Court of Appeals denied the Biden administration’s request to put on hold a judge’s Nov. 10…
Too Much Stimulus Is Key Cause for a Coming Recession, Says Bank of America CEO
Excessive stimulus spending by governments during the pandemic is a key cause for a coming recession next year, according to a major bank CEO. Too much stimulus money was printed during this time that the United States needs to “adjust to that decision, and that’s why you’re seeing the Fed tighten quick,” Bank of America’s…
Bulls on the Charge After Fed Signals Smaller Hikes Ahead
December 1, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—The bulls were enjoying the good life in Europe on Thursday after the world’s most influential central banker, Jerome Powell, signaled this year’s frantic pace of U.S. interest rate hikes could be about to slow. It was a textbook ‘risk on’ pattern, with both the STOXX 600 and MSCI’s main world stocks index hitting their…
Mortgage Demand Drops as Potential Buyers Ignore Falling Rates and Stay on Sidelines
November 30, 2022
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30-year mortgageBusiness & Marketseconomic policieseconomyinflationInvestmentMarketspersonal financereal estaterefinanceUSUS Real Estate
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U.S. mortgage applications tumbled as potential buyers across the country ignored falling borrowing rates and stayed on the sideline due to still-high home prices. Applications for mortgage loans decreased 0.8 percent from a week earlier, according to data from the Mortgage Bankers Association (MBA) for the week ended Nov. 25, 2022, with an adjustment for the…
US Not Seeking to Fully ‘Decouple’ From China, Just Limit Ties in Core Areas That Threaten Security
November 30, 2022
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Business & MarketsChinaChinese Regimedecouple from Chinaeconomic policieseconomyFinance & Business TiesGina RaimondoSpecial TopicsTech Competitiontechnologytrade with chinaUSUS-China relationsUS-China relationship
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Even though the United States is taking steps to protect the country’s military and tech prowess from Beijing, Washington is not looking to cut off ties with China, according to U.S. Secretary of Commerce Gina Raimondo. “We’re not seeking the decoupling from China. We want to promote trade and investment in areas that don’t threaten…
Federal Reserve Chair Speaks at Brookings Institution Event on Economic Outlook
Federal Reserve Chair Jerome Powell speaks on the economic outlook, inflation, and the labor market at a Brookings Institution event in Washington. * Click the “Save” button below the video to access it later on “My List.” Follow EpochTV on social media: Twitter: https://twitter.com/EpochTVus Rumble: https://rumble.com/c/EpochTV Truth Social: https://truthsocial.com/@EpochTV Gettr: https://gettr.com/user/epochtv Facebook: https://www.facebook.com/EpochTVus Gab: https://gab.com/EpochTV…
LIVE NOW: Federal Reserve Chair Speaks at Brookings Institution Event on Economic Outlook
Federal Reserve Chair Jerome Powell speaks on the economic outlook, inflation, and the labor market at a Brookings Institution event in Washington. Video credit: The Brookings Institution * Click the “Save” button below the video to access it later on “My List.” Follow EpochTV on social media: Twitter: https://twitter.com/EpochTVus Rumble: https://rumble.com/c/EpochTV Truth Social: https://truthsocial.com/@EpochTV Gettr:…
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