economy and economic indicators

Food prices are skyrocketing, and it's changed the way we eat |  CNN Business

Food prices are skyrocketing, and it’s changed the way we eat | CNN Business

New York CNN Business — Lisa Altman prided herself on being able to eat whatever she wanted without worrying too much about the price. When she was growing up, seconds weren’t served and side dishes were rare. “My mom had a budget every week and she stuck to it,” she said. “As I got older …

Food prices are skyrocketing, and it’s changed the way we eat | CNN Business Read More »

Mortgage rates climb to nearly 6.3%, the highest level since 2008 |  CNN Business

Mortgage rates climb to nearly 6.3%, the highest level since 2008 | CNN Business

Mortgage rates jumped for the fifth consecutive week, rising above 6% again in the face of yet another aggressive interest rate hike by the Federal Reserve. The 30-year fixed-rate mortgage averaged 6.29% in the week ending Sept. 22, down from 6.02% the previous week, according to Freddie Mac. That’s significantly higher than this time last …

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The Fed gets off to a strong start with a third consecutive rate hike of three quarters of a point |  CNN Business

The Fed gets off to a strong start with a third consecutive rate hike of three quarters of a point | CNN Business

washington d.c. CNN Business — The Federal Reserve made history on Wednesday by approving a third straight 75 basis point hike in an aggressive move to tackle runaway inflation plaguing the US economy. The oversized hike, which was unfathomable to markets just a few months ago, takes the central bank’s benchmark benchmark rate to a …

The Fed gets off to a strong start with a third consecutive rate hike of three quarters of a point | CNN Business Read More »

Wondering where the economy is going?  Keep an eye on your earnings |  CNN Business

Wondering where the economy is going? Keep an eye on your earnings | CNN Business

New York CNN Business — American businesses are beginning to prepare for a recession. The FedEx Economic Barometer (FDX) stunned Wall Street last week with a massive earnings warning and a lukewarm outlook for the global economy. Bad news from FedEx overshadowed a more promising development on Thursday, the agreement between rail operators and unions …

Wondering where the economy is going? Keep an eye on your earnings | CNN Business Read More »

Opinion: 3 things the Fed needs to see before stopping the rate hike |  CNN Business

Opinion: 3 things the Fed needs to see before stopping the rate hike | CNN Business

Editor’s note: Joseph H. Davis is Vanguard’s Global Chief Economist. The opinions expressed in this commentary are his own. The Federal Reserve is aware of the pain the price spiral is causing Americans. At the recent Jackson Hole Economic Symposium, Fed Chairman Jerome Powell said lower inflation “will also cause suffering for households and businesses.” …

Opinion: 3 things the Fed needs to see before stopping the rate hike | CNN Business Read More »