Home construction companies continue to be stuck in a deep rut, as confidence in the market falls once again this month. Rising mortgage rates and building material shortages have made new housing less affordable for most of the year, pushing away first-time buyers. The National Association of Home Builders (NAHB) reported on Oct. 19 that its monthly…
Homebuilder Confidence Falls for Record 10th Straight Month
October 19, 2022
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Business & MarketsCompanieseconomic policieseconomyhome builder sentimentinflationInvestmentMarketsmortgage ratesreal estateUSUS Real Estate
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Facing Tough Midterms, Biden Releasing Oil From US Reserve
WASHINGTON—High gasoline prices are the problem that President Joe Biden keeps trying to fix—and roughly a year’s worth of extraordinary efforts have done little to significantly lower costs. With Biden’s latest push Wednesday to release 15 million barrels from the U.S. strategic reserve and consider additional withdrawals this winter, he’s telling frustrated voters ahead of…
Inflation ‘Nowcast’ Tracker Suggests Price Pressures Increasing
October 19, 2022
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The trend of high inflation rates over the past few months looks all set to continue through October, according to a recent estimate by the Federal Reserve Bank of Cleveland. October’s Consumer Price Index (CPI), a measure of inflation, is predicted to be up by more than 0.8 percent from September, the Fed’s “Nowcast” inflation…
Biden Discusses Energy Costs and Security
October 19, 2022
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U.S. President Joe Biden delivers remarks on additional actions being taken to lower energy costs and strengthen energy security in the Roosevelt Room at the White House. * 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:…
From Treasury Buybacks to UK Gilt Intervention, Global Bond Market Volatility Intensifies
The market for global bonds historically has been safe and subdued. However, in 2022, the international bond market has turned extremely volatile, with the selloff resulting in trillions of dollars’ worth of losses. From U.S. Treasurys to UK gilts, many advanced economies have been affected by the chaos unfolding in the industry. US Treasury Buybacks…
Global Bond Market Volatility Intensifies, From Treasury Buybacks to UK Gilt Intervention
The market for global bonds historically has been safe and subdued. However, in 2022, the international bond market has turned extremely volatile, with the selloff resulting in trillions of dollars’ worth of losses. From U.S. Treasurys to UK gilts, many advanced economies have been affected by the chaos unfolding in the industry. US Treasury Buybacks…
UAE Says OPEC+ Output Cut Was Correct Decision, No Politics Behind It
October 19, 2022
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arabiaBusiness & Marketseconomic policieseconomyenergyGold and CommoditiesInternationalMarketsMazroueiMiddle EastOilOPECSaudiUAEWorld
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ABU DHABI—The United Arab Emirates believes OPEC+ made the correct technical choice when it agreed to cut production targets and the unanimous decision had nothing to do with politics, energy minister Suhail al-Mazrouei said on Tuesday. His comments came after several members of the oil producers group endorsed the steep cut to output targets agreed…
Truss Fights for Survival as Prime Minister After Her Economic Plan Ends in Ruins
UK Prime Minister Liz Truss is fighting for her political survival as MPs from her own party turn against her following the catastrophic consequences caused by her economic plan. Truss became prime minister on Sept. 5, but her position has been seriously weakened after her “mini-budget,” which included £45 billion ($50 billion) of unfunded tax…
Fed May Need to Push Policy Rate Above 4.75 Percent: Kashkari
The Federal Reserve may need to push its benchmark policy rate above 4.75 percent if underlying inflation does not stop rising, Minneapolis Federal Reserve Bank President Neel Kashkari said on Tuesday. “I’ve said publicly that I could easily see us getting into the mid-4%s early next year,” Kashkari said at a panel at the Women…
Fed Pays Banks, Funds $15 Billion in Four Weeks for Not Investing Cash
The Federal Reserve has distributed more than $15 billion over the past four weeks to banks and money market funds simply for not investing the cash of theirs and their investors. The payouts have increased dramatically this year as the Fed is raising interest rates in an attempt to curb inflation. The Fed is saying…
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