Markets
Yellen Acknowledges Housing Crisis Suffocating First-Time Buyers
Janet Yellen acknowledges soaring prices and high mortgage rates make homebuying nearly impossible for first-time buyers.
Janet Yellen acknowledges soaring prices and high mortgage rates make homebuying nearly impossible for first-time buyers.
Immigrants first, citizens last
In March, the U.S. trade deficit widened to $69.4 billion, surpassing expectations due to declines in exports and imports.
JP Morgan forecasts interest rates rising to 8%, potentially triggering a recession and banking crisis similar to past financial downturns.
U.S. hiring rates have plummeted to a six-year low as of March 2024, highlighting significant labor market challenges and discrepancies between official data and actual job availability.
Amid speculation of Bank of Japan intervention, the yen rebounded from a 34-year low against the dollar.
U.S. consumer confidence has hit its lowest since July 2022, sparking recession concerns as heightened prices lead to more savings and less spending.
The FOMC maintained the federal funds rate at 5.25-5.50%, citing 'lack of progress' toward its 2% inflation target and adjusting market expectations for future rate cuts.
