Monthly Archives: September 2022

Janet Yellen warns US gas prices could spike this winter as oil soars once Europe stops buying Russian crude

Gas prices could rise again once the EU’s ban on Russian seaborne oil kicks in, Treasury Secretary Janet Yellen has warned. Paul Sancya/AP Photo Janet Yellen warned there’s a risk US gas prices at the pump could rise again in winter. The US Treasury chief said the EU’s ban on seaborne Russian oil could cause…

SpaceX says FCC’s ‘grossly unfair’ rejection of $886 million Starlink subsidy leaves many Americans stranded on the wrong side of the digital divide

Elon Musk, the founder of SpaceX, which owns Starlink. Yasin Ozturk/Getty Images SpaceX said the FCC’s rejection of an $886 million Starlink subsidy was “unreasonable” and “unfair.” It leaves Americans stranded on the wrong side of the digital divide, SpaceX said in a filing. The FCC said in August it didn’t make sense to fund…

Elon Musk warns the Fed could send prices spiraling downward if it hikes interest rates too sharply this month

Elon Musk. Patrick Pleul/Pool/AFP via Getty Images Elon Musk cautioned that a major rate hike by the Federal Reserve could spark deflation. Musk bemoaned cost pressures at Tesla and SpaceX in March, but recently argued inflation has peaked. Cathie Wood, Michael Burry, and other commentators have also flagged deflation as a possibility. If the Federal…

Today’s mortgage and refinance rates: September 12, 2022 | Rates unlikely to cool any time soon

Though it briefly dipped below 5% in early August, the average 30-year fixed mortgage rate is now back up to 5.89%, the highest it’s been since 2008, according to Freddie Mac. Rates have increased dramatically in recent weeks as the Fed has signaled it will continue raising the federal funds rate until inflation comes down….