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Latest Economy News

From crypto to crude, markets flatline ahead of today’s monumental Fed meeting

[Fortune, Getty Images] It’s Fed day, investors. Here’s what you’ll need to know. Good morning. Global stocks and U.S. futures are pretty steady ahead of today’s big Fed decision—or, more likely, lack of one. Either way, there will still be plenty of fireworks as Jerome Powell gets grilled on inflation, growth, the labor market and bond-buying. That […]

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Americans’ inflation fears reach a fever pitch as consumer prices rise

[CNBC] Fears of inflation in the year ahead hit its highest level on record, according to a report by the Federal Reserve Bank of New York.  When inflation rises, savers may consider alternatives for stashing cash.As the economy quickly picks up steam in the wake of the Covid pandemic, Americans expect inflation to jump in the months […]

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An inflation storm is coming for the U.S. housing market

[MarketWatch, iStock] Some economists suggest the government may be misunderstanding the size of the problem Fast-rising housing costs have helped to push inflation to a 13-year high. But the way that government statisticians track the price of consumer goods may be missing just how explosive home-price growth has been in recent months. Housing costs rose […]

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Cryptocurrency trading is stopping people from looking for full-time jobs: CareerBuilder CEO

[Yahoo! Finance, Shutterstock] The 559,000 jobs the U.S. added in May continue to puzzle economists, who predicted 675,000 additions for the month and 1 million additions a month earlier as the economy recovers. They’ve put forth explanations from lack of child care to persistent COVID-related safety concerns. Now, another culprit can be added to the list: Some potential workers are instead […]

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U.S. consumers sour on housing market’s buying conditions

(Reuters) – A record-low percentage of U.S. consumers believe now is a good time to buy a home, with worries about surging prices and a small supply of houses on the market outweighing improved sentiment about their jobs and income, a survey from home financing giant Fannie Mae showed on Monday. The percentage of consumers […]

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What Inflation? Stock Funds Rise Again

[The Wall Street Journal] U.S.-stock funds squeaked out an average return of 0.5% in May—their seventh monthly gain in a row Nothing has been able to derail the monthly winning streak for mutual-fund investors. But things came close in May. U.S.-stock funds put a smile on investors’ faces again despite accelerating inflation.ILLUSTRATION: GIACOMO BAGNARAWorries about […]

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3 side hustle apps that could help you earn money — including one that’s ‘surprisingly lucrative’

[Acorns, Twenty/20] “Small electronics, game consoles, video games, and designer clothing and bags” sell best on Mercari. Remote work options and flexibility remain important to Americans even as Covid-19 rates drop and people start heading back to the office. A majority of men, 69%, and women, 80%, said remote work options are among the most important factors to consider when […]

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Americans look forward to ‘revenge spending’ after a year inside—here’s how to make the most of it

[CNBC, Twenty/20] Call it revenge spending. With many parts of the U.S. reopening, tens of millions are expected to make up for lost time by shelling out for experiences they’ve been missing over the past 15 months. More than a year after Covid-19 upended lives around the world, Americans are preparing for a return to […]

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Biden administration unable to continue $300 weekly pandemic unemployment benefits that GOP governors are slashing

[CNN] The Labor Department has exhausted its options for continuing to pay an extra $300 a week in federal unemployment benefits to jobless people in the 22 GOP-led states that are ending them early, an administration official told CNN Thursday. Roughly 3.6 million out-of-work Americans will forgo a total of $21.7 billion in benefits as a result […]

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Inflation speeds up in April as consumer prices leap 4.2%, fastest since 2008

[CNBC] The Consumer Price Index rise for April from a year earlier was the sharpest since September 2008.Economists surveyed by Dow Jones had been looking for an increase of 3.6%.One big reason for the acceleration was base effects – at this time a year ago, the economy was hit with the worst of the Covid […]

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