Snippet of Article: "...The US labor market added far fewer jobs than expected in October...Data from the Bureau of Labor Statistics released Friday showed the labor market added 12,000 payrolls in October, less than the 100,000 expected by economists. ...Additionally, labor force participation fell to 62.6% from 62.7%."
Source: finance.yahoo.comSnippet of Article: "...The Biden administration is contemplating the release of additional oil from the Strategic Petroleum Reserve (SPR) to mitigate rising gasoline prices and ensure market stability. This potential move comes as the SPR is at historically low levels following substantial releases over the past year aimed at curbing fuel costs amid geopolitical tensions and economic pressures. ..."
Source: digitalweekday.comSnippet of Article: "...Friday’s May jobs report revealed tighter-than-expected labor market conditions, dampening market expectations of imminent Fed rate cuts. Market expectations no longer fully price in two Fed rate cuts by the end of the year. Investors reduced bets on a September cut...the May employment report delivered mixed messages. While payrolls and wage growth were strong, the rise in the unemployment rate was unexpected, he said. Recent job growth has been concentrated in part-time positions, with a decline in temp jobs indicating a cooling labor market, he said. "
Source: www.msn.comSnippet of Article: "... The Biden administration on Wednesday announced the cancellation of an additional $7.7 billion in student loans for 160,000 Americans in its ongoing efforts to relieve soaring college debt. ..."
Source: www.cnn.comSnippet of Article: "...Last year's job cuts weren't the end of layoffs. Further reductions have begun in 2024. ...See the full list of corporations reducing their worker numbers in 2024. "
Source: www.businessinsider.comSnippet of Article: "The Fed wants to whip regional lenders into shape, fearing a ticking time bomb in the souring commercial real estate market...Michael Barr, shared the Federal Reserve’s direction of travel in a speech to the Columbia Law School annual banking conference in February. The writing is on the wall for regional banks: more scrutiny, more supervision, more rules. ...Given that regional bank chiefs had an easier ride under the Donald Trump administration, they must be crossing their fingers and toes that, come November 5, the White House turns from blue to red."
Source: www.thebanker.com
Snippet of Article: "...President Biden claimed on Wednesday that inflation was at 9% when he entered the White House in January 2021, when, in fact, the consumer price index (CPI) was at a mere 1.4% at the time. ...But under Biden's watch, the inflation rate ballooned from 1.4% to 9.1% in June 2022. ...Under Biden, overall inflation (seasonally adjusted) has increased 18.9% from January 2021 to March 2024. During the same period, all food costs are up 21%, while shelter costs are up 20.5% and energy costs are up 36.9%."
Source: www.foxbusiness.comSnippet of Article: "...When asked if the Fed cares about consumers' reaction to current inflation, Pinto states, "No, they clearly want it, below 3% and is close to two as possible. I think they're obviously tracking all the different metrics. I think wage inflation, from our vantage point, is one of the most important ones... Obviously, there are parts of inflation that are out of control of the Fed, whether it's energy prices or housing prices, those are more driven by externalities and cyclical factors. But the Fed is trying to manage the mandate between keeping inflation in check, but also keeping the economy on solid footing."..."
Source: finance.yahoo.comSnippet of Article: "...“This ad has been removed by Google for a ‘policy violation.’ It was live in the Google archive this morning but I just looked and it’s now been removed,” Arenge posted. “Super PAC spent over $15K targeting it at specific communities near Macon, GA after launching it on April 25th.”
However, after facing significant backlash online, Google appears to have reversed its decision:
“Google appears to have completely reversed their decision,” Arenge said. “The Make America Great Again, Inc. ads are no longer flagged for a policy violation in the Google ad archive.”..."
Snippet of Article: "...In what has become a rare occurrence on Wall Street, the S&P 500 fell significantly in April. ...a bearish cloud lingers over the markets. With large caps dipping 4% ...The risk is that lofty earnings estimates for the back half of the year could be called into question if macroeconomic factors begin to weigh."
Source: seekingalpha.comSnippet of Article: "...The national average for 30-year mortgages was 7.31% as of April 24. ...The national median family income for 2023 was $96,300, according to the U.S. Department of Housing and Urban Development, and the median price of an existing home sold in March 2024 was $393,500, according to the National Association of Realtors (NAR). Based on a 20 percent down payment and a 7.31 percent mortgage rate, the monthly payment of $2,160 amounts to 27 percent of the typical family’s monthly income."
Source: www.bankrate.comSnippet of Article: "...latest U.S. Consumer Price Index (CPI) data released on Wednesday, which showed a 0.4% increase in month-on-month inflation and a 3.5% rise compared to the previous year. Core CPI, which excludes volatile food and energy prices, also saw an increase of 0.4% month-on-month and 3.8% year-on-year. These figures exceeded market expectations and underscored the challenge faced by the Fed in managing inflationary pressures. The overall inflation rate of 3.5% is the highest level since ..."
Source: www.breakinglatest.newsSnippet of Article: "...The proposed adjustments, approved by the Postal Service governors, would raise mailing services product prices approximately 7.8 percent.The proposed adjustments, approved by the Postal Service governors, would raise mailing services product prices approximately 7.8 percent.
The commission will review the changes before they are scheduled to take effect. If favorably reviewed, the changes would include:
• Letters (1 ounce): 68 cents (current), 73 cents (planned)
• Letters (metered 1 ounce): 64 cents (current), 69 cents (planned)...
Snippet of Article: "...West Texas Intermediate (WTI) contract for April gained 86 cents, or 1.10%, to $79.01 a barrel. May Brent futures added 66 cents, or 0.80%, to $82.70 a barrel. ..."
Source: www.nbcchicago.comSnippet of Article: "...Senate’s Joint Economic Committee, since Joe Biden took office in January 2021, American households are spending…
49% more on air transportation
39% more on repair of household furniture and appliances
35% more on gasoline and other motor fuels
34% more on eggs
32% more on public transportation
27% more on electricity and gas
27% more on school meals
24% more on poultry, beef, and veal
21% more on food overall
19% more on rent
..."
Snippet of Article: "... expectations are for a 0.4% month-on-month rise in "core" inflation, a marked increase on the 0.2% rate in December.
Hotter-than-expected prints in recent consumer and producer inflation data have the market on edge for a disappointing PCE print — a further sign of stalled progress that could persuade the Fed to..."
Snippet of Article: "Inflation ticks upward to 3.7% as the Fed's fight to tame high consumer prices rolls on. Annual inflation has now ticked up two months in a row. ...Core inflation, a measurement of cost increases that removes energy and food prices because of their volatility, rose 4.3%. ...it ticked higher in August because of cuts in oil production, which led to higher gasoline prices. ...the inflation metric that excludes food and energy prices. ...gas prices usually fall in August as consumers start to drive less, but this year was a break from that pattern."
Source: www.nbcnews.comSnippet of Article: "Atlanta, GA – Governor Brian P. Kemp today declared a state of emergency due to the 40-year-high inflation and negative economic conditions felt by hardworking Georgians as a result of policies coming out of Washington, D.C. As part of this declaration, he is temporarily suspending the state’s excise tax on motor and locomotive fuel to provide direct relief to families throughout the state. ...Suspension of the excise tax will save Georgians 31.2 cents per gallon of gasoline and 35 cents per gallon of diesel fuel. "
Source: georgia.gov