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The Federal Reserve, led by Jerome Powell, raised interest rates earlier this month. Samuel Corum/Getty Images The Federal Reserve’s ability to stick a soft landing in the economy appears more unlikely, according to Bank of America.The bank highlighted Powell’s commitment to getting inflation back to the 2% range, which will require a lot more financial…
A customer shops in a Kroger grocery store on July 15, 2022 in Houston, Texas. U.S. retail sales rose 1.0% in June according to the Commerce Department. Brandon Bell/Getty Images The US economy shrank in the first six months of 2022, but it’s most likely still healthy. Back-to-back quarterly contractions signal a technical recession, but…
Refinancing can help you achieve certain financial goals, such as spending less money on your mortgage each month or making value-boosting upgrades to your home. MoMo Productions/Getty Images Plan to pay between 3% to 6% of your principal in closing costs when you refinance. Mortgage closing costs can include an application, appraisal, and origination fees,…
Russian oil export revenues have surged in 2022. Vladimirovic/Getty Images Oil prices jumped more than 2% early Thursday as a rebound in fuel demand tamed recession fears. West Texas Intermediate gained as much as 2.38%, while Brent, the international benchmark, moved roughly 2.13% higher. US gasoline demand jumped 8.5% last week from the prior week,…
Sen. Joe Manchin (D-WV). Anna Moneymaker/Getty Images Solar stocks were higher Thursday as senator Joe Manchin reached a deal with Democrats on climate spending. The agreement includes $369 billion in climate and energy spending aimed at cutting US carbon emissions 40% by 2030. Shares of SunRun and SunPower both jumped as much as 13% while…
Fed Chair Jerome Powell. ANDREW CABALLERO-REYNOLDS/Getty Images Stocks rose Thursday even as GDP data revealed the US economy contracted for the second straight quarter. The economic data added to the mounting fears of a recession and followed the Fed’s rate hike Wednesday. Meta reported an earnings miss after-hours Wednesday, and its CEO warned of an…
Daffodils flourishing in sidewalk cracks, pigeons and starlings congregating on overhead power lines, rats living in your apartment walls — no matter how urban humans strive to make our environments, nature’s flora and fauna will make themselves right at home next to us. Sometimes that’s cute, like Pizza Rat, sometimes it’s not, like Pescadero High’s…
Don’t be surprised if you see an electric pickup truck assisting cops in the near future. Ford has introduced a version of the 2023 F-150 Lighting built for police, the Lightning Pro SSV (Special Service Vehicle). The new model is designed for tasks that don’t involve pursuit, such as assisting at crime scenes or towing…
With the launch of its latest smartphone today, ASUS finally bids farewell to its quirky “Flip Camera” feature, but it still believes that there’s a market for compact flagships. The new Zenfone 9 only comes in one size, which has kept the same 5.9-inch screen and 169-gram weight as its predecessor, but packing a bigger…