With the Biden administration already setting the narrative yesterday that today’s inflation print could be ‘high’, and expectations for a headline print of +7.9% YoY (from +7.5% YoY in January), the bar was high for any surprises and the headline print came in right in the dot at +7.9% YoY – the highest since Jan 1982.
Newsfeed: US Consumer Prices Are Rising At Their Fastest Pace In Over 40 Years Read More »
The Fed took an unprecedented as well as illegal action on Russia that constitutes economic warfare and may easily start a currency crisis or something even worse.
Newsfeed: Unprecedented Fed Action May Have Just Started a Global Currency Crisis Read More »
President Joe Biden signed an executive order on Wednesday mobilizing the federal government to create a strategy for digital assets like cryptocurrencies that promotes innovation in the industry while minimizing risks to Americans and the global financial system.
The global economy had only just begun to recover from the pandemic when Putin decided to invade Ukraine, sending oil prices soaring.
Newsfeed: Brace For High Oil Prices, Inflation, And An Economic Slowdown Read More »
One-year U.S. inflation expectations have rocketed higher since Russia’s invasion of Ukraine and the longer-term outlook has begun increasing as well, a development likely to be watched closely by the Federal Reserve as it battles to keep price pressures under control.
Newsfeed: New index shows U.S. inflation expectations shifting higher Read More »
Many pros predict that mortgage rates will continue to rise in 2022, but expect ups and downs along the way. We looked into the latest mortgage rate predictions from big real estate players — and asked five experts — to examine what might happen to mortgage rates this year.
Mortgage rates dipped further away from 4% this week, following the decline in the 10-year Treasury yield amid intensifying fighting in Ukraine. The rate on the average 30-year fixed home mortgage fell to 3.76%, down from 3.89% a week ago, according to Freddie Mac. A year ago, the 30-year loan rate averaged 3.02%.
Newsfeed: Mortgage rates retreat more as Ukraine crisis continues Read More »
Federal Reserve Chair Jay Powell said Wednesday that he expects the central bank to raise interest rates by a quarter-point this month, despite the economic uncertainty generated by the Russian invasion of Ukraine. “I do think it will be appropriate to raise our target range for the federal funds rate at the March meeting in a couple of weeks, and I’m inclined to propose and support a 25-basis-point rate hike,” Powell told the House Financial Services Committee.
Newsfeed: Fed Pressing Ahead With Rate Hike in March Read More »
Despite existing home sales unexpected surge in January, new home sales are expected to drop modestly (-1.2% MoM) in January (after a huge unexpected surge in December), but sales actually tumbled considerably more (down 4.5% MoM) to 801k SAAR (from 839k SAAR).
Newsfeed: US New Home Sales Tumble In January As Mortgage Rates Soar Read More »
U.S. home sales unexpectedly rose in January, but investors paying in cash are squeezing out first-time buyers amid record low inventory and higher prices. Existing home sales rebounded 6.7% to a seasonally adjusted annual rate of 6.50 million units last month, the National Association of Realtors said on Friday. Sales rose in all four regions. Economists polled by Reuters had forecast sales decreasing 1.0% to a rate of 6.10 million units.