New York CNN Business — Here’s another sign that the economy is slowing. Procter & Gamble (PG), the maker of Tide, Dawn, Bounty and other leading household brands, warned Friday that consumers were beginning to pull back on their spending as inflation concerns mount. P&G posted 7% sales growth during its most recent quarter ending …
The owner of Tide and Dawn has a warning about the economy Read More »
Mortgage rates declined this week, continuing a volatile streak as the market digests the onset of an economic recession that will have implications for the US housing sector. A 30-year fixed-rate mortgage averaged 5.30% through Thursday, according to the latest data from Freddie Mac. The rate dipped from the previous week, when it sat at …
Mortgage rates fall as recession fears rattle housing market: Freddie Mac Read More »
The Federal Reserve took an aggressive step on Wednesday to combat soaring inflation with the announcement of another larger than usual, three-quarters of a percentage point interest rate hike. The increase comes as central banking officials face a tough balancing act: bringing down rising prices amid growing concerns of an economic downturn. The latest increase …
Federal Reserve hikes interest rates for the fourth time this year Read More »
Economist Nouriel Roubini, who correctly predicted the 2008 financial crisis, believes the US is heading towards a deep recession and said those claiming the downturn will be mild are “delusional.” “There are many reasons why we are going to have a severe recession and a severe debt and financial crisis,” Roubini said on Bloomberg TV …
Economist Nouriel Roubini calls predictions for shallow recession ‘delusional’ Read More »
US home prices were up nearly 20% in May compared to the year before. But there were signs the market began to cool as rising mortgage rates pushed more prospective buyers to the sidelines. Home prices rose 19.7% in May from the year before, a slightly smaller jump than the 20.6% growth seen in April, …
Home prices are still going strong, but there are signs of slowing Read More »
Congress is missing an opportunity to combat decades-high inflation by failing to implement tax hikes, former Clinton administration Treasury Secretary Larry Summers asserted on Friday. Summers, a frequent critic of the federal response to inflation, argued that lawmakers should consider raising taxes as another means of cooling the economy — with a focus on corporations …
Congress should raise taxes to fight inflation ‘right now’ Read More »
The US housing market could be on the verge of a “meltdown,” an economist warned following this week’s release of data showing a collapse in home builder confidence in July. US home builder confidence plummeted 12 points to 55 in July, according to the latest data from the National Association of Home Builders/Wells Fargo Housing …
US housing market could be headed for ‘meltdown’: economist Read More »
GasBuddy head of petroleum analysis Patrick De Haan explained what factors could cause falling gas prices to “stall out,” warning that “we are not out of woods yet just.” De Haan made the argument on FOX Business’ “Mornings with Maria,” Monday, as the national average for a gallon of gas slipped slightly to $4.52 from …
Falling gas prices could ‘stall out’ due to certain factors, analyst warns Read More »
It’s National Ice Cream Day, and while ice cream prices have been on the rise, businesses are offering deals and freebies Sunday. The big picture: Much like with National French Fry Day last week, businesses are using the freebies and deals to build bigger customer databases and drive loyalty. Driving the news: Ice cream prices …
Free ice cream, deals at Cold Stone, Carvel, Baskin Robbins Read More »
