In a recent interview with CNBC, John Williams emphasized, “We aren’t really talking about rate cuts right now. It’s just premature to be even thinking about that.” New York Fed President John Williams quashed rumors circulating on Wall Street about a potential reduction in interest rates The statement caught stock market investors off guard, particularly…
Freddie Mac, a leading mortgage giant, reported a seventh consecutive weekly decline, with the average interest rate on a new 30-year fixed mortgage dropping to 6.95% from the previous week’s 7.03%. Mortgage rates fell below 7%, marking the first instance since the summer, providing a glimmer of hope for prospective homebuyers looking for increased affordability…
The current monthly average retirement benefit of approximately $1,800 raises concerns about the feasibility of such dreams. In envisioning retirement, many dream of leisurely pursuits funded by their US Social Security checks, providing financial security after a lifetime of work and responsibilities The precarious state of the US Social Security fund, slated to exhaust by…
Southwest Airlines’ CEO, Bob Jordan, assured the public that the airline is gearing up for the upcoming Christmas travel season, determined to avoid a repeat of last year’s catastrophic meltdown. Bob Jordan emphasized this commitment at an event held at the Wings Club in New York, confidently declaring, “It will never happen again” In the…
In a surprising turn of events, SmileDirectClub, a once-prominent player in the oral-care industry, has announced the closure of its global operations, leaving over 2 million customers in uncertainty. SmileDirectClub, which filed for Chapter 11 bankruptcy protection in September, has been grappling with financial challenges, accumulating nearly $900 million in debt The Nashville-based company, known…
This marks the third consecutive pause since July, with the central bank maintaining the federal funds rate in a range of 5.25% to 5.5%. The Federal Reserve declared on Wednesday that it will keep its benchmark interest rate unchanged, extending relief for borrowers following the most rapid series of hikes in four decades Federal Reserve…
The Consumer Price Index increased by a modest 0.1% last month, resulting in a 3.1% rise compared to the previous year, aligning with economists’ expectations. Gas prices fell, contributing to a moderation in U.S. inflation in November, according to a report from the Labor Department on Tuesday The core CPI experienced a 0.3% climb, marking…
According to the latest weekly gas prices drop report by AAA, the cost of a gallon of regular, unleaded, self-serve gas in Butler experienced a five-cent drop, hitting $3.54 per gallon as of the most recent Monday. Gas prices drop across local areas and throughout the broader western Pennsylvania region The broader landscape of western…
In a surprising turn of events, a 52-year-old professional, balancing work and family responsibilities, has returned to Central Connecticut State University (CCSU) during the global pandemic to complete his degree in strategic communication. The unique circumstances prompted a reevaluation of the importance of financial literacy classes, leading to a statewide initiative aimed at bridging the…
The Casden Multifamily Forecast from the University of Southern California (USC) indicates that areas including Los Angeles, San Diego, Riverside, and San Bernardino counties are likely to experience below-average increases in rent. The University of Southern California (USC) has forecasted a rise in rents across Southern California by two to four percent, as reported by…