Illustration: Brendan Lynch/Axios Sam Bankman-Fried has been released on a $250 million bond as he faces the fallout of FTX’s collapse. But that doesn’t mean he has $250 million. Why it matters: Last month, SBF told Axios Pro’s Lucinda Shen that he was down to his last $100,000. But as Thursday’s events showed, the economics …
Russia’s first response to oil price cap; To slash output by 7 lakh barrels per day in 2023 Hindustan TimesOil rises 2% on Russian supply worries; US storm impact in focus Yahoo FinanceRussia says it may cut oil output up to 7% over price cap ReutersRussia-Ukraine live news: Russian envoy says US ties in ‘ice …
“Hasten slowly and ye shall arrive” said the ancient Tibetan poet, Milarepa. The Federal Reserve Board clearly does not share this philosophy. It has tightened monetary policy at a dizzying pace, taking short-term rates from near zero at the beginning of 2022, to above 4.25%, an increase of more than 6000%. I applaud the Fed’s …
Why the Fed, and Jerome Powell, should hit the pause button on rate hikes Read More »
MURAT GOCMEN/iStock via Getty Images November PCE Price Index: +0.1% M/M vs. +0.2% expected and +0.4% prior (revised from +0.3%). +5.5% Y/Y vs. +5.5% expected and 6.1% prior (revised from +6.0%). Core PCE Price Index: +0.2% M/M vs. +0.2% expected and +0.3% prior (revised from +0.2%). +4.7% Y/Y vs. +4.6% expected and +5.0% prior (unchanged). …
PCE inflation slightly cooler than expected in November Read More »
A devastating combination of conditions — elevated mortgage rates, high construction costs, and low inventory levels — has hammered the housing market this year. “We firmly believe that we’re in a housing recession right now,” Jerry Howard, CEO of the National Association of Home Builders, told Yahoo Finance Live (video above), noting that he’s “particularly …
‘We’re in a housing recession right now,’ says expert Read More »
Dec 23 (Reuters) – Wall Street’s main indexes opened lower in choppy trading on Friday after data showed inflation cooled further in November, but not enough to discourage the Federal Reserve from driving interest rates to higher levels next year.The Dow Jones Industrial Average ( .DJI) fell 66.43 points, or 0.20%, at the open to …
SNAPSHOT Wall St opens lower as investors assess inflation data Read More »
White House chief economist Jared Bernstein told Yahoo Finance this week he’s optimistic the US economy can keep growing next year, and remains encouraged by signs inflation is coming down. “A recession is not inevitable,” Bernstein said from his office in the Old Executive Office Building, overlooking the North Lawn of the White House. “I …
White House economist Jared Bernstein on the outlook for 2023 Read More »
Inflation is slowing, but consumers aren’t spending as much as hoped this holiday season, data showed Friday. The core personal-consumption expenditures price index, or PCE deflator, was up 0.2% in November and 4.7% from a year ago, in line with what economists had forecast, according to FactSet. That compares with a 5% year-over-year rise in …
Inflation Is Slowing Down, PCE Data, the Fed’s Preferred Measure, Shows Read More »
Tokyo Reuters — Japan’s core consumer inflation hit a fresh four-decade high as companies continued to pass on rising costs to households, data showed, a sign price hikes were broadening and could keep the central bank under pressure to whittle down massive stimulus. Months before Tuesday’s surprise tweak to its yield control policy, Bank of …
Japan’s consumer inflation hits a fresh 40-year high Read More »
The headlines out of Silicon Valley are enough to send shivers down the spine of any tech worker. Layoffs and hiring freezes have happened at companies of all sizes but hit Big Tech especially hard. Yet experts are calm, and studies have found that tech jobs are abundant in other industries. Loading Something is loading. …
Most Tech Jobs Aren’t in Tech Right Now — They’re in Other Industries Read More »