To combat inflation, the Fed will soon raise rates significantly again. The economy is balanced.

July 28, 2022By omar salman

At a news conference, Fed Chair Jerome Powell defended the "unusually substantial" rate increase by stating that "the labor market is exceedingly tight and inflation is much, much too high."

Powell declared, "My colleagues and I are well aware that high inflation causes enormous hardship, particularly on those least able to manage the higher expenses of necessities like food, shelter, and transportation."

The average rate on a 30-year fixed-rate mortgage is at 5.54 percent, almost doubling from the start of the year, which has kept many buyers away, according to Freddie Mac. Sales and construction of new homes have both decreased.

The stock market comes next. The tech-heavy Nasdaq, which is in a bear market, has plunged by almost 25% this year, while the broadly based S&P 500 is down roughly 17%.

The Commerce Department will publish its quarterly report card on economic growth later this week. Gross domestic product decreased by 1.4 percent in the first quarter of the year.

According to Ryan Wang, a U.S. economist at HSBC, "there is a lot of evidence suggesting economic growth has slowed throughout the first half of this year."

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Inflation

The US annual inflation rate increased from 8.6 percent in May to 9.1 percent in June 2022, exceeding market expectations of 8.8 percent and

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The story of Inflation in the 21st Century - the run-up and the way-forward

The article has been copied from LinkedIn profile of Sanjeev Kumar. Link of the original post:

Citigroup predicts further downward revisions in oil demand.

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WHAT HAPPEN HISTORICALLY ON JULY 1-3

In the first days of July 1863, two great armies converged at the small town of Gettysburg, in southern Pennsylvania. Begun as a skirmish between

House prices in Northern Ireland are at record highs nationwide, but there are hints of a slowdown as mortgage rates decline.

According to Nationwide Building Society, price growth slowed from 11.2 percent in May to 10.7 percent in June. The typical home price in the UK

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