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A discounted batch of planks is seen as people shop for lumber at a Home Depot store in Alhambra, California on May 4, 2022. FREDERIC J. BROWN/AFP via Getty Images Lumber prices extended their 2-day decline to 10% after the Fed hiked interest rates by 75 basis points on Wednesday. The aggressive interest rate hike […]
Top economist Mohamed El-Erian said many have lost faith in the Fed. Photo by Rob Kim/Getty Images The Fed raised interest rates by 75 basis points on Wednesday, marking its third straight rate hike. It signaled more hikes ahead to tame inflation, but the move risks tipping the economy into recession. El-Erian said higher, faster […]
Federal Reserve Chair Jerome Powell. Chip Somodevilla/Getty The Federal Reserve should consider a 150-basis-point rate hike, a Wells Fargo strategist said. "Why not just rip off the Band-Aid — let's get there in one day," Michael Schumacher told CNBC. Most economists expect the Fed to raise interest rates 75 basis points after the conclusion of […]
Enlarge / US President Joe Biden speaks at the Detroit Auto Show, in Detroit on September 14, 2022. (credit: Getty | Anadolu Agency) “The pandemic is over,” President Joe Biden said matter-of-factly in a 60 Minutes interview that aired Sunday night. The impromptu comment immediately drew headlines, as well as criticism from health experts. It […]
Traders work on the floor of the New York Stock Exchange Andrew Burton/Getty Images US stocks fell Tuesday, turning lower in the post-Labor Day session. Stocks gave up earlier gains after a stronger-than-expected ISM services report. That bolstered views that the Fed sees the economy as strong enough to take on more rate hikes. US […]
A clash between national regulators has wrong-footed money markets
Will Ferrell will always have a special place in Christmas schedules thanks to the enduring appeal of the wonderful Elf. However, his latest release, out in UK cinemas, is more of a Christmas turkey than a cracker. The comedy retelling of Sherlock Holmes and Doctor Watson has pulled in some of the worst reviews of the year […]
Oil prices slumped on Friday with the Brent crude benchmark falling to the lowest point in 18 months – below $ 53 per barrel. It comes after the US Federal Reserve hiked interest rates, spooking the market. US crude benchmark West Texas Intermediate (WTI) fell nearly 1 percent to $ 45.32 a barrel, also marking […]
The Dow Jones Industrial Average swung nearly 900 points Wednesday, slumping after the Federal Reserve raised interest rates for the fourth time in 2018 and signaled a milder path of increases over the next year.
The pound suffered its sharpest drop since the 2017 general election last week and has failed to recover since. The pound is currently trading at €1.125 against the euro, according to Bloomberg. Brexit continues to dominate headlines and affect sterling’s growth this week. Laura Parsons, currency analyst at TorFX, spoke to Express.co.uk regarding the latest […]
