Yellen says inflation and rising gas prices remain a ‘risk’

CNN — Treasury Secretary Janet Yellen said on Sunday there is a ‘risk’ that US gas prices could rise again later this year as fears grow that Americans’ wallets could be put to the test. hardship by a price spike similar to the one seen this summer. “Well, it’s a risk. And that’s a risk … Read more

The Fed’s Powell triggered a 1,000 point rout in the Dow Jones. Here’s what investors should do next.

Now might be a good time to consider hiding in short-term Treasuries or corporate bonds and other defensive parts of the stock market. On Friday, Federal Reserve Chairman Jerome Powell spoke of a willingness to inflict “a bit of pain” on households and businesses in an unusually blunt speech from Jackson Hole that hinted at … Read more

Fed Chief Powell ‘did what he had to do’ in Jackson Hole, says Larry Summers

“ “The Fed is positioned as well as it can be – given the credibility losses and mistakes that have been made – with these remarks to handle things going forward.” ” —Larry Summers On Friday, former US Treasury Secretary Lawrence Summers praised the Federal Reserve, saying Fed Chief Jerome Powell’s latest pledge to contain … Read more

‘There is no pivot from the Fed’: Wall Street finally gets the message as stocks slump after Powell speech

Federal Reserve Chairman Jerome Powell’s brief but candid speech in Jackson Hole on Friday sparked a sharp sell-off in stocks and other financial assets as Wall Street reacted to his vow to bring inflation down central bank’s 2% target. The S&P 500 SPX, -3.37% finished 141.46 points lower, or 3.4%, at 4,057.74. The Dow Jones … Read more

US stocks climb as strong economic data bolster sentiment ahead of Powell speech

U.S. stocks rose on Thursday, with major benchmarks heading for back-to-back gains after a string of strong economic data as investors awaited news from Federal Reserve Chairman Jerome Powell on Friday. How Stocks Trade S&P500 SPX rose 42 points, or 1%, to 4,183. Dow Jones Industrial Average DJIA advanced 150 points, or 0.5%, to 33,116. … Read more

US housing market ‘in much worse shape’ than Fed admits: economist

The Federal Reserve’s policy tightening has sent the US housing market into a slump – and policymakers have yet to fully recognize the extent of the problems, according to a leading economist. Ian Shepherdson, chief economist at Pantheon Macroeconomics, provided a bearish outlook for homeowners after federal data showed sales of new single-family homes bottomed. … Read more

Home prices plunge in ‘pandemic boom towns’ as market crashes

Landlords in markets that boomed when the real estate sector was hot during the COVID-19 pandemic are now being forced to cut prices due to falling demand, according to data released Monday by Redfin. Salt Lake City is among the most overheated markets.Getty Images In the United States, 21% of home sellers lowered their asking … Read more

Watch out for a ‘bear trap’ stock pullback after big summer rally, strategists warn

It looks like a “bear trap” may be lurking in this summer’s big rebound for the stock market, which could lead to painful losses for investors, Glenmede strategists warned in a Monday report. Investors are already appearing reconsider some factors of the strong rebound this summer, including rethinking hopes that the Federal Reserve might not … Read more

Home prices plunge in ‘pandemic boom towns’ as market crashes

Landlords in markets that boomed when the real estate sector was hot during the COVID-19 pandemic are now being forced to cut prices due to falling demand, according to data released Monday by Redfin. In the United States, 21% of home sellers lowered their asking prices in July – the highest share since Redfin started … Read more

Walmart results ease some fears of recession

New York CNN Business — Walmart reported good news on Tuesday for investors and economists worried about a looming recession, as the retail giant painted a much more optimistic picture of consumer spending than it offered less ago. one month. On July 25, Walmart issued a revenue warning for the rest of the year, saying … Read more