Tag Archives: Interest

Lumber prices hit a nine month low as borrowing costs surge.Carolyn Cole/Getty Images Lumber prices are spiraling as red-hot house prices and the rising cost of mortgages is hitting affordability. Nearly 80% of National Housing Survey respondents reported now is the worst time to buy a home. It’s set to worsen as Americans foresee their financial situations deteriorating over the next year. Lumber prices have been on a steep decline as a combination of rising interest rates, record-high… Source link

Tech companies such as Facebook parent Meta (FB) and Microsoft (MSFT) are plowing money into their plans for the metaverse, the 3-D virtual world that tech executives are obsessed with. But so far, the experiences that users can get their hands on are nowhere near Silicon Valley’s promises of hyper-realistic avatars and seamless interactions with the real world. And it could be turning consumers off. “People have kind of lost interest in the metaverse, because characters look like… Source link

(Reuters) – Kansas City Federal Reserve Bank President Esther George on Monday said she expects the U.S. central bank to lift its target interest rate to about 2% by August, with further action dependent on how both supply and demand are affecting inflation. “Fed policymakers have emphasized a commitment to act expeditiously to restore price stability, and I expect that further rate increases could put the federal funds rate in the neighborhood of 2% by August, a significant pace of change in… Source link

The Federal Reserve on Wednesday raised short-term interest rates by 0.50%, as part of an effort to tamp down the inflationary pressures weighing on Americans. The central bank suggested that it will further raise borrowing costs throughout this year as it attempts to undo its pandemic-era, easy money policies. The policy-setting Federal Open Market Committee also detailed plans on unwinding its nearly $9 trillion balance sheet. The decision to raise rates by 0.50% marked the most aggressive… Source link

San Francisco Fed President Mary Daly said Thursday that she sees the case for quickly moving to raise interest rates this year as inflation remains high. “I like to think of it as expeditiously marching towards neutral. It’s clear the economy doesn’t need the accommodation we’re providing,” Daly told Yahoo Finance in an exclusive interview Thursday. The Fed hopes that raising borrowing costs will dampen the consumption and spending that has pushed prices higher. The central banker told Yahoo… Source link

Twitter Inc. TWTR, +7.48% is expected to turn down Tesla Inc. TSLA, +1.96% Chief Executive Elon Musk’s offer for the social-networking company, and private-equity powerhouse Apollo Global Management Inc. APO, -1.27% is considering whether to join in a bid, according to a Monday afternoon report. The Wall Street Journal reported after U.S. markets closed that leaders of Apollo, which owns the remnants of… Source link

Dallas Cowboys cornerback Kelvin Joseph is being sought as a “person of interest” in connection with a Dallas area homicide that occurred on March 18, sources have told Yahoo Sports. The Dallas Police Department is seeking an interview with Joseph, after he appeared to be in surveillance footage near the scene of the shooting death of 20-year old Cameron Ray. Homicide investigators released multiple pieces of footage to Fox 4 News in Dallas earlier this week, asking viewers to identify… Source link

The Greg Norman-led, Saudi Arabia-backed LIV Golf Invitational Series, a rival to the PGA Tour, is preparing to announce a roster of players that includes several notable names, according to a new report in the Telegraph. Norman is pressing forward with the venture despite the intense public criticism of Phil Mickelson’s connections to the endeavor, and indicated to the Telegraph that he will be formally announcing “marquee names” that will join the tour in the coming weeks. The Telegraph… Source link

Bank of Canada Governor Tiff Macklem says inflation is too high and we need higher interest rates (REUTERS/Blair Gable The Bank of Canada is raising its target for the overnight rate by half a percentage point to 1 per cent. Canada’s central bank says it will also stop buying government bonds and begin quantitative tightening (QT), beginning April 25. The Bank of Canada also sharply increased its inflation expectations, saying Russia’s invasion of Ukraine is creating economic… Source link

Seth Carpenter, Morgan Stanley chief economist and former Federal Reserve deputy director of monetary affairs, thinks there is no way around a sharp slowing of the economy as the Federal Reserve embarks deeper into its rate hiking cycle. “If you think about what the Fed itself thinks is the long-run sustainable growth rate of the economy, they think that rate of growth is below 2%. And so if you take a growth rate in the economy that’s above 5% or 6%, and you’re going to try to bring it down… Source link