Recent data reveals that the Federal Reserve is not in a hurry to decrease its benchmark rate. Predictions of multiple cuts before the year ends are dwindling due to results like a strong jobs report and a faster-than-expected increase in the consumer price index for March. This unexpected turn of events indicates that inflation is
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The release of a higher-than-expected consumer price index (CPI) reading has created a stir in the financial markets, with investors closely monitoring a specific prices gauge within the data known as supercore inflation. Supercore inflation, which excludes shelter and rent costs from its services reading in addition to volatile food and energy prices, provides a
During the March meeting, Federal Reserve officials expressed concerns over the pace at which inflation was decreasing. While they still anticipated cutting interest rates later in the year, policymakers were uneasy about the lack of significant progress in reducing inflation. Despite targeting the benchmark rate between 5.25% and 5.5%, FOMC members were hesitant to lower
In recent years, there has been a growing trend among wealthy American families towards obtaining second citizenships and national residences. This trend, often referred to as “passport portfolios,” involves wealthy individuals accumulating multiple citizenships to hedge against financial risks. While the United States passport remains highly regarded, many affluent Americans are seeking additional citizenships as
New York Community Bank recently made headlines as it faced financial difficulties and required a significant capital injection to stay afloat. This regional lender found itself in a precarious situation after announcing preparations for substantial losses on commercial real estate loans, triggering a series of downgrades and managerial changes. The bank’s stock price plummeted, and
Taiwan Semiconductor Manufacturing Co. (TSMC) has recently reported a significant surge in monthly revenue for March, driven by the ongoing demand for high-end chips in the artificial intelligence (AI) sector. The company announced a record revenue of 195.2 billion new Taiwan dollars ($6.1 billion) for the month, representing a remarkable 34.3% year-on-year increase. This surge
Toyota Motor recently unveiled the highly-anticipated 2025 4Runner SUV after a long hiatus of nearly 15 years without a new model. This release marks the completion of a full redesign of the automaker’s lineup of trucks and SUVs, with the 4Runner now sporting a fresh new look reminiscent of the updated Toyota Tacoma pickup. However,
China’s economy heavily relies on the stability of its housing market. According to Richard Koo, chief economist at Nomura Research Institute, convincing people that home prices are set to rise is crucial for stimulating economic activity in the country. However, the reality seems bleak as both business and consumer appetite for new loans have been
Purchasing a new home can be an exciting and fulfilling experience, but it can also come with unexpected financial burdens. According to a recent survey by Real Estate Witch, nearly 75% of new homeowners have regrets about their purchase, with property taxes being the most common concern, surprising 33% of new owners. This is particularly
General Motors’ Cruise self-driving vehicle unit is making a comeback on U.S. roads after a hiatus since October. The company announced that it will be redeploying a small fleet of human-driven vehicles in Phoenix to kickstart their reentry into the autonomous vehicle market. This relaunch follows an unfortunate incident that occurred in San Francisco in
