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“Why US homes were pulled off market at record pace last month” US listings of home for sale got pulled a record clip in November because of a major freeze in the market that surprised sellers, according to a recent report by real estate firm Redfin. An average of 2% of US homes up for…
The Hill’s Morning Report — Georgia Senate runoff runs into 2024 jockeying Editor’s note: The Hill’s Morning Report is our daily newsletter that dives deep into Washington’s agenda. To subscribe, click here or fill out the box below. Close Thank you for signing up! Subscribe to more newsletters here The latest in politics and policy….
“Here’s how much US home prices will plunge in current market bubble” US home prices will likely have to decline by as much as 20% over the course of a multi-year correction before the housing sector can get back on track with historical trends, a research firm warned this week. The most recent correction cycles…
“US hiring strong in November as employers added 263,000 jobs” The nation’s employers kept hiring briskly in November despite high inflation and a slow-growing economy — a sign of resilience in the face of the Federal Reserve’s aggressive interest rate hikes. The economy added 263,000 jobs, while the unemployment rate stayed 3.7%, still near a…
“Jobless claims fall by 16,000 after surging a week earlier” Initial claims for state unemployment benefits dropped 16,000 to a seasonally adjusted 225,000 for the week ended Nov. 26. That unwound some of the surge in the prior week, which had boosted claims. While some of the rise reflected a surge in layoffs in the technology sector, claims also tend to…
“Fed inflation gauge shows October prices eased to 6%” A measure of inflation that is closely monitored by the Federal Reserve eased but remained at an elevated level in October, likely reinforcing the Fed’s intent to keep raising interest rates to cool the economy and slow the acceleration of prices. Thursday’s report from the Commerce Department showed…
“rate-hike slowdown possible in December” The Federal Reserve could scale back the pace of its interest rate hikes “as soon as December,” Fed Chair Jerome Powell said Wednesday, while cautioning the fight against inflation was far from over and that key questions remain unanswered, including how high rates will ultimately need to rise and for how long….
“‘Big Short’ investor Michael Burry warns US doomed to ‘multi-year recession’” Burry has repeatedly warned the US economy is in the midst of a major downturn. If you liked the article, do not forget to share it with your friends. Follow us on Google News too, click on the star and choose us from your favorites. For…
“Job openings dipped in October in positive sign for Fed” US job openings dropped in October but remained high, a sign that businesses became slightly less needy for workers as the Federal Reserve ramps up interest rates in an effort to cool the economy. Employers posted 10.3 million job vacancies in October, down from 10.7 million in…
“GDP revised up to 2.9% for third quarter” Despite high interest rates and chronic inflation, the US economy grew at a 2.9% annual rate from July through September, the government said Wednesday in a healthy upgrade from its initial estimate. Last quarter’s rise in the gross domestic product — the economy’s total output of goods…