What you should be investing in as interest rates appear to peak

By Tilly Armstrong Assistant Consumer Editor For Dailymail.Com Updated: 20:00 GMT, 7 November 2023 Interest rates may have reached their peak in the US, according to experts, which means investors may be thinking about how this could impact their portfolio – and how they can take advantage.  The Federal Reserve announced at its latest meeting … Read more

Are YOU richer than your neighbors? Fascinating study shows the amount needed to be in the top 5% of each state

What it takes to be in the top 5 percent of earners in each state varies hugely across the US, a landmark new report lays bare.   Connecticut requires the highest income of any state to make the top 5 percent, according to a study by GOBankingRates.  Residents will need to earn a pre-tax household income of … Read more

Mortgage rates hit 7.5% for the first time since 2000 as house sales tumble to multi-decade low

Mortgage rates hit 7.5% for the first time since 2000 as house sales tumble to multi-decade low 30-year mortgage rates increased throughout September ending at 7.53 percent Rates will likely remain high as the Fed indicated interest rates will rise again Home sellers are slashing prices as sales were at their lowest levels since 1995  By … Read more

Fed holds steady on interest rates but hints a further hike could be on the way this year – what does it mean for YOUR pocket?

The Federal Reserve has held interest rates steady – keeping benchmark borrowing costs between 5.25 and 5.5 percent.  The much-anticipated decision is the second time in six policy meetings this year that the central bank has not raised rates, slowing the pace of increases to allow time to assess the impact of its aggressive drive to … Read more

How inflation has hit YOUR pocket: Cost of gas and airline fares shot up last month – but dairy, bread and electronics are on the decline

Household budgets suffered another blow in August as the rate of annual inflation ticked up for the second month in a row, new figures revealed today. The annual rate is now hovering at 3.7 percent – after falling to a low of 3 percent in June. And it remains well above the Fed‘s target of … Read more

Interest rates soar to highest level since 2001, sparking misery for credit card holders and homebuyers – here’s how latest Fed rate hike could hit YOUR pocket

Interest rates soar to highest level since 2001, sparking misery for credit card holders and homebuyers – here’s how latest Fed rate hike could hit YOUR pocket The Fed raised interest rates by a quarter percentage point, after pressing pause on hikes last month  The central bank made the unanimous decision to raise rates to … Read more

US hiring accelerated in April as employers added 253,000 new jobs

Job creation in the US accelerated last month, in a sign that the labor market remains surprisingly resilient in the face of rising interest rates, chronic inflation, multiple bank failures and mounting economic uncertainty.   Despite those headwinds, total employment rose by a surging 253,000 jobs in April. That was far above what economists had projected, … Read more

Banks borrow a record $153B from Fed in scramble for liquidity

Bank borrowing from the US Federal Reserve spiked to a record $153 billion this week, shattering the peak seen during the 2008 financial crisis as banks scramble for liquidity. It was the largest amount of borrowing on record from the Fed’s discount window, which offers banks 90-day loans at the central bank’s policy rate, currently … Read more

Federal Reserve announces that ALL depositors at Silicon Valley Bank will be protected

The Federal Reserve on Sunday night announced that all those with money in collapsed Silicon Valley Bank will get their money back, as a second bank was revealed to have closed. On Sunday morning Janet Yellen, the Treasury Secretary, said there would be no government bail-out, and the Federal Reserve statement said no taxpayer money would … Read more

Biden hopes inflation is back to normal by the ‘end of next year’

President Joe Biden said Tuesday that he hoped inflation would be under control by the end of next year, but told reporters he couldn’t make any guarantees.   In answer to a question about when he expected prices to get back to normal, he replied: ‘I hope by the end of next year we’ll be much … Read more

Consumer expectations for inflation are rising in troubling sign for the Fed

Americans expect costs to RISE even more next year in sign that consumers are losing confidence that the Fed can tame soaring inflation, new survey shows UMich poll showed inflation expectations increased for first time since March Consumers expect inflation at 5.1% a year from now, up from 4.7% a month ago It’s a sign … Read more

US inflation: Older Americans fear rising prices more than young people

Older Americans and those living in the South and the Midwest are more likely to be worried about rising inflation than their younger counterparts in the Northeast and West, according to new survey data from the Federal Reserve of New York. The survey data released on Monday showed another increase in short-term inflation expectations in November, … Read more