#Five ways to prepare for an uncertain 2023 economy

#Five ways to prepare for an uncertain 2023 economy

Five ways to prepare for an uncertain 2023 economy For the U.S. economy, 2022 was a wild and somewhat painful year. And 2023 could be even more intense. A year of stubbornly high inflation, rapid interest rate hikes and war-driven energy shock have weakened the U.S. economy. While the job market remains remarkably strong, many…

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#Mortgage rates rise for first time in seven weeks

#Mortgage rates rise for first time in seven weeks

“Mortgage rates rise for first time in seven weeks” The average long-term US mortgage rate rose this week after falling for six straight weeks, adding to the challenges potential homebuyers face amid higher home prices and a limited supply of available houses. Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year…

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#Dow jumps as jobless claims data eases rate worries

#Dow jumps as jobless claims data eases rate worries

“Dow jumps as jobless claims data eases rate worries” Wall Street’s main indexes ended higher on Thursday, led by growth stocks in light trading, as unemployment data signaled the Federal Reserve’s interest rate hikes might be starting to dent labor market strength in its bid to fight inflation. The Dow Jones Industrial Average soared 345.09 points, or 1.1%,…

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#Jobless claims rise for second straight week

#Jobless claims rise for second straight week

“Jobless claims rise for second straight week” The number of Americans filing new claims for unemployment benefits edged higher last week but remain in a range indicating the job market remains tight, even as the Federal Reserve works to cool demand for labor as part of its bid to lower inflation. Initial claims for state unemployment benefits rose 9,000 to a seasonally adjusted 225,000 for…

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#How China’s COVID surge will affect the world economy

#How China’s COVID surge will affect the world economy

“How China’s COVID surge will affect the world economy” It would be a gross understatement to say China is ill-prepared for President Xi Jinping’s recent abrupt abandonment of his zero-COVID policy. With a large part of the population inadequately vaccinated, COVID is spreading like wildfire across the country. More than half the passengers on a…

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#Inflation cost households an extra K

#Inflation cost households an extra $10K

“Inflation cost households an extra $10K” Inflation is over, the administration crows, even as Congress works to pass another massive spending bill — this time, $1.7 trillion. But struggling families know not to pop the cork yet. The consumer price index rose just 0.1% last month, bringing the 12-month rate to 7.1% — still higher…

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