Paul Krugman. Jeff Zelevansky/Getty Images Paul Krugman fears the Federal Reserve may go overboard in fighting inflation. He noted rate hikes have a delayed impact, and highlighted signs of a cooling labor market. The economist predicted rates would eventually return to near zero without causing inflation. Paul Krugman has warned the Federal Reserve is at…
Monthly Archives: October 2022
House with American flag and ‘for sale’ sign, low angle view – stock photo Phillip Spears/ Getty Images Demand for mortgages hit its lowest level in 25 years, Mortgage Bankers Association said Wednesday. Weekly total mortgage application volume dropped by 14.2% as the 30-year fixed mortgage rate rose to 6.75%. Hurricane Ian also crimped demand…
The Tesla Model Y. Tim Levin/Insider An increasing percentage of EV owners are choosing EVs over gas as their next car, per data analyzed by Axios. Between 2021 and 2022, the share of EV owners who went back to gas cars decreased by around 17%. The number of EV models available in the US market…
When you buy through our links, Insider may earn an affiliate commission. Learn more. Get a head start on Amazon’s second Prime Day with early savings on Amazon devices. Amazon; Insider Calling all holiday shoppers! Amazon’s back with another major deals event, and it’s called the Amazon Prime Early Access Sale. The new members-only shopping…
Rawpixel/Getty The average rate on a 30-year mortgage rose to 6.75% last week, the Mortgage Bankers Association said. That’s the highest since 2006, when the housing market bubble was at its peak before crashing one year later. Rates have more than doubled in the past year as the Fed raises interest rates to combat inflation….
Aragorn in “The Lord of the Rings: The Return of the King.” New Line Cinema Netflix pitched the Tolkien estate on “Lord of the Rings” TV shows before Amazon landed the rights. It took a “Marvel approach” that “freaked out” the estate, according to The Hollywood Reporter. HBO also pitched the estate on a TV…
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Tom Lee was formerly JPMorgan’s chief equity strategist. Brendan McDermid/Reuters There’s good reason to think the two-day surge in stocks this week wasn’t another bear market rally, according to Fundstrat’s Tom Lee.The firm highlighted a “100% bid” day in the Nasdaq, a 10% decline in JOLTS, and stability in high-yield spreads.“The promising aspect is the…
Russian President Vladimir Putin meets Chinese President Xi Jinping at BRICS Summit in Brasilia Mikhail Svetlov/Getty Images China’s imports of Russian crude oil were up in the second quarter of 2022, according to the EIA. 21% of China’s August crude imports were Russian, a 5% increase from a month earlier. Meanwhile, China is processing its…
Spotify has bought a company it says will help it detect and address harmful content on the platform. Kinzen uses machine learning and human expertise to analyze possibly harmful content and hate speech across multiple languages, Spotify said in a statement. It added that Kinzen will “help us more effectively deliver a safe, enjoyable experience…