The Federal Reserve raised interest rates by 25 basis points, lifting the benchmark federal funds rate to a range of 5.00 and 5.25 percent, the highest level since September 2007. The vote to raise rates by a quarter point was unanimous, according to a statement from the Federal Open Market Committee (FOMC). Markets had mostly…
Federal Reserve Raises Interest Rates by 25 Basis Points, Opens Door to Pause
IN-DEPTH: ULEZ Will Wipe Out Half a Billion Pounds a Year from London’s Economy: Report
The economic impact of the proposed extension of London Mayor Sadiq Khan’s Ultra Low Emission Zone (ULEZ) will wipe out “at least” half a billion pounds from the capital’s economy per year, according to new research. A new report, commissioned by Fair Fuel UK and written by economic consultancy CEBR, warns that London’s air pollution-cutting…
States Protest Biden’s Move to Hike Mortgage Fees for Buyers With Good Credit
May 3, 2023
admin
Business & Marketseconomic policiesFannie MaeFHFAFreddie Machome loansmortgagespersonal financereal estateUSUS NewsUS Real Estate
0 Comment
Financial officers from 27 states issued a letter to President Joe Biden protesting a new policy from the Federal Housing Finance Agency (FHFA) that increases mortgage fees for some higher-credit borrowers while lowering them for more risky borrowers. This policy, which critics say will penalize people with good credit and encourage risky borrowing, went into…
Housing Supply Not Keeping Up With Immigration, Rents Soar
May 3, 2023
admin
Business & MarketsCanadaCMHCeconomic policiesGlobal Real Estatehousing supplyimmigrationreal estateWorld
0 Comment
News Analysis Housing supply is not keeping up with a rapidly growing population and the problem is worsening in 2023, with a downturn in home building underway due largely to higher interest rates. The government’s higher immigration targets and record-breaking year for processing immigration applications are putting greater strains primarily on the rental market. Canada’s…
IN-DEPTH: Oil Company Profits Soar
May 3, 2023
admin
BPBusiness & MarketsChevronCompaniesearningseconomic policieseconomyenergyExxonInvestmentMarketsoil companiesprofitsUS
0 Comment
Top oil companies continue to see massive earnings, according to published earnings reports for the first quarter of 2023 this week. Energy prices have been soaring following Russia’s invasion of Ukraine in February 2022 and due to persistent global demand. TotalEnergies, ExxonMobil, Chevron, BP, and Shell reported a combined record profit of $153.5 billion in 2022…
ANALYSIS: Oil Company Profits Soar
May 3, 2023
admin
BPBusiness & MarketsChevronCompaniesearningseconomic policieseconomyenergyExxonInvestmentMarketsoil companiesprofitsUS
0 Comment
Top oil companies continue to see massive earnings, according to published earnings reports for the first quarter of 2023 this week. Energy prices have been soaring following Russia’s invasion of Ukraine in February 2022 and due to persistent global demand. TotalEnergies, ExxonMobil, Chevron, BP, and Shell reported a combined record profit of $153.5 billion in 2022…
Regional Bank Crisis Is ‘More Serious’ Than We Understand: Ex-Fed President Kaplan
May 3, 2023
admin
bank crisisBusiness & Marketseconomic policieseconomyFederal Reserveinterest rateMarketsrecessionUSUS News
0 Comment
Former Federal Reserve Bank of Dallas President Robert Kaplan said that the regional banking crisis may be more serious than commonly believed and called for the central bank to pause its rate hiking cycle to give policymakers more time to address the risks. Kaplan made the remarks in an interview on Bloomberg TV, in which…
Europe’s Inflation Inches Up Ahead of Interest Rate Decision
FRANKFURT, Germany—Europe’s painful inflation has inched higher, extending the squeeze on households and keeping pressure on the European Central Bank to unleash what could be another large interest rate increase. Consumer prices in the 20 countries using the euro currency jumped 7 percent in April from a year earlier, just up from the annual rate…
Investors Warn of More Economic Pain to Come After First Republic Failure
May 2, 2023
admin
Business & Marketscommercial real estateCompanieseconomic policieseconomyFirst Republic BankinflationInvestmentMarketsrecessionstocksU.S. financial systemUSUS News
0 Comment
Top investors at the annual Milken conference have warned of more economic pain to come after the collapse of First Republic Bank. Attendees at the conference said that the third seizure of a U.S. regional bank by the Federal Deposit Insurance Corporation (FDIC) since March is threatening to constrain credit and accelerate the path toward…
ANALYSIS: How the Current Banking Crisis Is Different From the Financial Crisis of 2008
May 2, 2023
admin
bank crisisBusiness & MarketsCompanieseconomic policieseconomyFederal ReserveFirst Republic BankInvestmentpersonal financerecessionSignature BankSilicon Valley Bank CollapseUS
0 Comment
News Analysis As the current banking crisis spreads, with First Republic Bank becoming the third major U.S. bank failure of 2023, many are now seeing echoes of what has come to be known as the “Great Financial Crisis” of 2008–09. First Republic’s slow-motion collapse and ultimate acquisition by JPMorgan Chase on May 1 follows the…
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`