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Mortgage rates dipped slightly late last week but remain relatively high. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. But because inflation has been somewhat sticky in recent months, mortgage rates have remained elevated so far this year. Lower mortgage rates will bring more buyers onto the market, putting upward pressure on prices.

Persons: Fannie Mae Organizations: Zillow, Federal Reserve, Mortgage, Association, ARM Locations: Chevron

☆ The Fed will spark an economic crash by delaying rate cuts, State Street equity research chief says
▼ + stars: | 2024-05-06 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Read previewThe economy is bound to enter a downturn if the Federal Reserve delays cutting interest rates, according to Marija Veitmane, the head of equity research at State Street Global Markets. The Wall Street vet warned of an impending economic crash if the Fed doesn't ease monetary policy soon. Higher interest rates are already taking a toll on economic strength, she noted, even if growth numbers looked fine last quarter. But the economy is already showing signs of strain from the burden of elevated interest rates, Veitmane warned. Markets are largely expecting the Fed to keep interest rates level at its next policy meeting.

Persons: —, Marija Veitmane, Veitmane Organizations: Service, Federal, Street Global Markets, Business, CNBC, AAA

☆ Opinion | The Case for Letting Mortgages Move With Us
▼ + stars: | 2024-05-06 | by ( Peter Coy | ) www.nytimes.com time to read: +1 min

At the moment, the market for existing homes is partly frozen because people who have 3 percent mortgage loans don’t want to give them up for 7 percent loans on new homes. Making mortgages portable sounds unrealistic. After all, mortgages are tied by contract to particular pieces of property. “We’re getting this question a lot, even from our own members,” Mike Fratantoni, the group’s chief economist, told me. Nevertheless, he said he couldn’t imagine that owners of securitized loans would go along with the idea.

Persons: Fannie Mae, Freddie Mac, “ We’re, ” Mike Fratantoni, there’s Organizations: Federal Housing Finance Agency, Mortgage Bankers Association

Mortgage rates trended down a bit late last week, with 30-year mortgage rates dropping just below 7%, according to Zillow data. This is a sign that the economy is coming into better balance, which is good news for mortgage rates. Once inflation slows enough that the Federal Reserve is able to start lowering the federal funds rate, mortgage rates should trend down. See more mortgage rates on Zillow Real Estate on ZillowToday's refinance ratesMortgage type Average rate today This information has been provided by Zillow. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: you'll, Fannie Mae Organizations: of Labor Statistics, Federal Reserve, Investors, Zillow, Mortgage, Association, Sky Locations: Chevron

☆ Man Behind California Forever, Silicon Valley's City of the Future
▼ + stars: | 2024-05-05 | by ( Hugh Langley | Adam Rogers | ) www.businessinsider.com time to read: +29 min

He sees California Forever. And if he can't undo the damage, there may never be a California Forever. California Forever may be a subdivision, but it's precisely the kind of subdivision America needs right now. But here's the thing: California Forever may be a subdivision, but it's precisely the kind of subdivision America needs right now. Places like California Forever aren't being opposed by the people who are desperate for a place to live.

Persons: Jan Sramek's, Goldman Sachs, Sramek, Reid Hoffman, Laurene Powell Jobs, Marc Andreessen —, They've, Christie Hemm, Peter Thiel, Jan Sramek, Jan, Thiel, Goldman, CheatSheet, Sramek's, hadn't, Jonas Rave, who's, —, Guy Saidenberg, Evernote, Marc Andreessen, Jane Jacobs, He's, he'd, Robert Moses, growth.y Christie Hemm, Flannery, Bronson Johnson, David George, Andreessen Horowitz, Marilyn Farley, Farley, Solano County's, Kathleen Threlfall, Bill Mortimore, California Forever's, Jessica Christian, he's, Lyle Lanley, Solano, Sam Houston, weren't, Gabriel Metcalf, You've, John Garamendi, Garamendi, isn't, they'll, latte, Christie, Travis, I've, aren't, They're Organizations: Silicon, California, BI Development, University of Cambridge, London School of Economics, Party, Rising Star, Facebook, York, Sramek's, BI Sramek, Google, American, Planners, Sacramento -, Travis Air Force Base, Area, titans, Farmers, councilwoman, California Forever, Sacramento Municipal Utility District, Air Force, Flannery Associates, Disney, San Francisco, Vallejo Naval, Historical Museum, Rep, BI, Solano, Sierra, Goldman Locations: San Francisco, It's, Sramek, California, Rio Vista, Solano County, Napa, Sacramento, Silicon Valley, America, London, Zurich, England, Czech Republic, Dřevohostice, York, British, Eastern Europe, Cambridge, Bay Area, Hayes Valley, America's cutest, Atlanta, Phoenix, Copenhagen, Barcelona, New York, Sacramento - San Joaquin, San Francisco Bay, Lake Tahoe, Toledo , Ohio, Silicon, Google's, Toronto, Big Tech, China, Calif, Springfield, Vallejo, He's, Atherton, Foreverville, Fairfield, Austin, Solano, Valley, Europe

☆ Earnings will drive the market next week — what we expect from 2 portfolio stocks
▼ + stars: | 2024-05-04 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

With the Fed, Apple earnings and the jobs report passing with flying colors this week, the runway to more gains looks a lot less cluttered. This past week was chock full of Club earnings: 12 portfolio companies, including Apple , delivered results. Analysts expect Wynn's earnings per share of $1.27 versus 29 cents a year ago when China was not fully back from Covid. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jerome Powell, we're, Jim Cramer, Jim, Apple, Eli Lilly, Estee Lauder, Stanley Black, Decker, Bausch, FactSet, It's, Bob Iger, Iger, Nelson Peltz, We're, Krystal, Berkshire Hathaway, Tyson, Jones Lang, Walt, Ferrari N.V, WK Kellogg, Wynn, Vishay, CRON, MARA, RICK, Ginkgo, Jim Cramer's, David Paul Morris Organizations: Federal Reserve, Apple, GE Healthcare, DuPont, Linde, Bausch Health, Coterra Energy, Club, Disney, Wynn Resorts, CNBC, Revenue, Vegas Sands, Cotai, Boston, Airlines, Krystal Biotech, Alpha Metallurgical Resources, Axsome Therapeutics, Tyson Foods, TSN, Bowlero Corp, CNA Financial Corp, CNA, Jones Lang LaSalle Incorporated, Technologies, Realty Income Corp, Lab, Teradata Corp, Technology, FMC Corporation, FMC, Paymentus Holdings, Shockwave, Vertex Pharmaceuticals, Goodyear Tire & Rubber Company, Simon Property Group, Sterling Construction Company, Apple Hospitality, Boise Cascade Corporation, BellRing Brands, Coty, COTY, Fidelity National Information Services Inc, Vornado Realty, Walt Disney Co, Holdings, Madrigal Pharmaceuticals, Nikola Corporation, BP, Rockwell Automation, MarketAxess Holdings, Jumia Technologies, GEO Group, Builders FirstSource Inc, Duke Energy Corp, WYNN, Rivian Automotive, Arista Networks, Occidental Petroleum Corp, Astera Labs, Bros, Flywire Corporation, B2Gold Corp, Kinross Gold Corp, Virgin Galactic Holdings, iRobot Corp, Electronic Arts Inc, McKesson Corp, ACM Research, Avadel Pharmaceuticals, Toyota Motor Corp, Emerson Electric Co, Perion, Editas, Brink's Company, Sinclair Corporation, New Fortress Energy, Starwood Property Trust, Animal Health, ELAN, Farms, IM Cannabis Corp, Fox Corporation, Formula One, Icahn Enterprises, Teva Pharmaceutical Industries, Arm Holdings plc, ARM, AMC Entertainment Holdings, Trade, AppLovin Corporation, Sciences Corp, SolarEdge Technologies, Roblox Corporation, GigaCloud Technology Inc, Warner Bros ., Properties Trust, Growers, Constellation Energy Group, Cronos, Fiverr, Solar Inc, EPAM Systems, Cedar Fair Entertainment, Digital Holdings, RCI Hospitality Holdings, Akamai Technologies, Semiconductor, Insulet Corp, NuScale Power Corporation, Ginkgo Bioworks Holdings, Bloom Energy Corporation, Construction, AMC Networks, CRH Public Ltd . Company, Jim Cramer's Charitable, Allen, Co . Media, Technology Conference, Bloomberg, Getty Locations: China, Eaton, Amazon, Covid, Macao, Vegas, Sun Valley , Idaho

☆ The Fed Just Got the Job Market Cooling It Has Been Waiting For
▼ + stars: | 2024-05-03 | by ( Jeanna Smialek | ) www.nytimes.com time to read: +1 min

Federal Reserve officials are keeping a close eye on the job market as they contemplate when and whether they can cut interest rates this year. That was both cooler than the previous reading and slightly cooler than the 4 percent economists had forecast. The overall picture was one of a labor market that remains solid but is gradually slowing — exactly what officials at the Fed have been looking for. Central bankers generally embrace a strong job market: One of their two mandates from Congress is to foster maximum employment. But when inflation is rapid, as it has been since 2021, officials worry that a hot labor market could help to keep price gains elevated.

Organizations: Federal

☆ The Fed Is Looking for a Job Market Cool-Down. It Just Got One.
▼ + stars: | 2024-05-03 | by ( Jeanna Smialek | ) www.nytimes.com time to read: +1 min

Federal Reserve officials have been looking for further evidence that their interest rate increases over the past two years are weighing on the economy and job market, and Friday’s employment report roundly provided that signal. That moderation came as job gains slowed, the unemployment rate ticked up slightly and average weekly hours nudged down. The overall picture was one of a labor market that remains solid but is gradually slowing — exactly what officials at the Fed have been looking for. Central bankers generally embrace a strong job market: One of their two mandates from Congress is to foster maximum employment. But when inflation is rapid, like it has been since 2021, officials worry that a hot labor market could help to keep price gains elevated.

Organizations: Federal

☆ The market rallied but not our stocks that reported earnings — so we pounced on 2 of them
▼ + stars: | 2024-05-02 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +4 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street.

Persons: Jim Cramer, Jerome Powell, doesn't, Stanley Black, Decker, toolmaker Stanley Black, Estee Lauder, Locker, Jim, Jim Cramer's Organizations: CNBC, Linde, Marshalls, TJX Companies, Health, Apple, Coterra, Jim Cramer's Charitable Locations: China

☆ The stock market's sell-off is over and the Fed gave 5 bullish signs to investors at its latest meeting, Fundstrat's Tom Lee says
▼ + stars: | 2024-05-02 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

The sell-off that battered stocks in April probably won't stretch into May, according to Fundstrat's Tom Lee. AdvertisementThe stock market's sell-off could be over, and five bullish signals the Fed gave at its latest policy meeting are setting the stage for gains in May, according to Fundstrat's head of research Tom Lee. Investors are now pricing in a 69% chance the Fed could rate rates once or twice by the end of the year, according to the CME FedWatch tool. Stock investors have already perked up on a brighter outlook for Fed rate cuts this year. Stocks reacted positively to the Wednesday Fed meeting.

Persons: Tom Lee, Lee, —, Powell, presser, Stocks Organizations: Service, Markets, Fed, stagflation, Investors

☆ Federal Reserve interest rate verdict: Central bankers meet to decide on next move
▼ + stars: | 2024-05-01 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

Washington CNN —The Federal Reserve is expected to announce Wednesday that it is keeping interest rates at a quarter-century high for the sixth-straight meeting. Other Fed officials have already introduced the possibility of a rate hike, in addition to the chance of no rate cuts this year. Williams later said that another rate hike is possible if economic data warrants it. That combination eerily resembled stagflation, which triggered a broad stocks selloff on Wall Street Thursday. The threshold for a rate hike is ‘extremely high’Another interest rate hike is back in the conversation, but at the moment, it’s still not likely the Fed will do that.

Persons: Jerome Powell, ” Powell, Powell, John Williams, Williams, Neel Kashkari, Austan Goolsbee, “, can’t, it’s, Goldman Sachs, Wall, ” Oren Klachkin Organizations: Washington CNN, Federal, Index, New York Fed, Bloomberg, Minneapolis, Chicago Fed, Commerce Department, JPMorgan, Bank of America, Nationwide, CNN Locations: New, Chicago, Wells Fargo

☆ Stock market today: US stocks fall ahead of Fed decision
▼ + stars: | 2024-05-01 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Markets are widely expecting the Fed to keep interest rates unchanged. The outlook for rate cuts this year continues to sour, with traders pricing in just one or two cuts by December. AdvertisementUS stocks were mostly lower on Wednesday as traders waited for the Federal Reserve to announce its next move on interest rates. Investors have also dialed back their outlook for rate cuts throughout the year. At Wednesday's meeting, market watchers expect Powell to formally confirm this shift from the FOMC, which had previously forecast three rate cuts this year," Alex Kuptsikevich, a senior market analyst at FxPro said in a note.

Persons: Stocks, —, Richard Flynn, Charles Schwab, Powell, Alex Kuptsikevich, FxPro Organizations: Service, Federal Reserve, Open Markets, Traders

☆ The Fed Tries to Steer Clear of Politics, But Election Year Is Making It Tough
▼ + stars: | 2024-05-01 | by ( Jeanna Smialek | ) www.nytimes.com time to read: +1 min

Federal Reserve officials are fiercely protective of their separation from politics, but the presidential election is putting the institution on a crash course with partisan wrangling. Fed officials set policy independently of the White House, meaning that while presidents can push for lower interest rates, they cannot force central bankers to cut borrowing costs. Incumbent politicians generally want low interest rates, which help to stoke economic growth by making borrowing cheap. But the Fed uses higher interest rates to keep inflation slow and steady — and if politicians forced to keep rates low and goose the economy all the time, it could allow those price increases to rocket out of control. Pressuring officials for lower rates was unlikely to help, administrations reasoned, and could actually backfire by prodding policymakers to keep rates higher for longer to prove that they were independent from the White House.

Organizations: Federal, White

☆ 'Basel III' bank rules could pose unexpected threat to Biden's green energy plans
▼ + stars: | 2024-05-01 | by ( Emily Wilkins | ) www.cnbc.com time to read: +5 min

Banks help fund the vast majority of renewable energy projects through tax equity investments, which allow the banks to benefit from federal tax credits for renewable energy. Currently, renewable energy draws $18 billion to $20 billion annually through tax equity investments, according to the American Council on Renewable Energy. "Many people joke that we're on the 'solar-coaster,'" Torres said about the ups and downs of renewable energy. The higher capital requirements for renewable energy projects in Basel III puts the regulation on a collision course with the Biden administration's push for cleaner and greener energy sources. "The clean energy industry's experience with tax equity investments does not warrant such a radical change," the group's letter read.

Persons: Julian Torres, Torres, he's, Banks, Jerome Powell, Biden, Dominic Lacy, Sean Casten Organizations: D.C, Gallaudet University, Washington , D.C, Gallaudet, Federal Reserve, FDIC, American Council, Renewable Energy, Basel III, Tesla, American Bankers Association, Bank, Institute, Clean Energy State Alliance Locations: Washington ,, Basel

☆ Fed Holds Rates Steady, Noting Lack of Progress on Inflation
▼ + stars: | 2024-05-01 | by ( Jeanna Smialek | More About Jeanna Smialek | ) www.nytimes.com time to read: +1 min

Federal Reserve officials left interest rates unchanged and signaled that they are wary about how stubborn inflation is proving, paving the way for a longer period of high interest rates. The Fed held borrowing costs steady at 5.33 percent on Wednesday, leaving them at a more than two-decade high where they have been set since July. Central bankers reiterated that they need “greater confidence” that inflation is coming down before reducing rates. “Readings on inflation have come in above expectations,” Jerome H. Powell, the Fed chair, said at a news conference following the release of the central bank’s rate decision. After months of rapid cooling, inflation has proved surprisingly sticky in early 2024.

Persons: ” Jerome H, Powell Organizations: Federal Reserve, Fed

☆ A contrarian stock market indicator is on the verge of flashing a 'buy' signal, Bank of America says
▼ + stars: | 2024-05-01 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Stocks are edging closer to a "buy" signal, according to BofA's contrarian market indicator. AdvertisementA contrarian indicator in the stock market is edging closer to a "buy" signal, according to Bank of America. The bank's Sell Side Indicator, a contrarian stock market gauge that flashes a bullish signal when investor sentiment is bearish, and vice versa, is now closer to a "buy" signal than a "sell" signal, strategists said in a note on Wednesday. The lower reading is a bullish sign for stocks, as the indicator is now just 3.3 percentage points away from flashing a "buy" reading, strategists said. Advertisement"The SSI has been a reliable contrarian indicator - in other words, it has been bullish when Wall Street was extremely bearish, and vice versa," the bank wrote.

Persons: —, Stagflation Organizations: Service, Bank of America, SSI

☆ Stock market today: Indexes mixed after Fed meeting as Powell calms nerves over possible hike
▼ + stars: | 2024-05-01 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Central bankers chose to keep interest rates steady, and Powell said a rate hike was "unlikely." Fed officials chose to keep interest rates unchanged, in line with the market's expectations. Investors have been fretting over higher interest rates as inflation came in hotter-than-expected throughout the first quarter. The odds of a Fed rate hike in June are less than 1%. Calling that out in the first paragraph is tantamount to saying that interest rate cuts are not coming soon."

Persons: Powell, —, Greg McBride, Bankrate, Charlie Ripley Organizations: Service, Federal Reserve, Nasdaq, Fed, Allianz Investment Management

☆ Demand for riskier adjustable-rate mortgages hits highest level of the year, due to rising rates
▼ + stars: | 2024-05-01 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

When mortgage rates rise, consumers look for any way to lower their monthly payments, and that often leads them to adjustable-rate mortgages (ARMs). These loans offer lower interest rates than their fixed-rate counterparts but are considered riskier. When mortgage rates hit record lows back in 2021, the ARM share of applications was in the 3% range. Meanwhile, the average contract interest rate for 5/1 ARMs decreased to 6.60% from 6.64%. "Inflation remains stubbornly high, and this trend is convincing markets that rates, including mortgage rates, are going to stay higher for longer.

Persons: Mike Fratantoni Organizations: Mortgage, Association, ARM, MBA's, Federal Reserve Locations: Hawthorn Woods , Illinois

☆ What to Watch as the Fed Makes Its Interest Rate Decision
▼ + stars: | 2024-05-01 | by ( Jeanna Smialek | ) www.nytimes.com time to read: +1 min

On the one hand, officials could stick with their recent script: Their next policy move is likely to be an interest rate reduction, but incoming inflation and growth data will determine how soon reductions can begin and how extensive they will be. Policymakers believe that they need to use interest rates to tap the brakes on demand and bring inflation fully under control. The Fed will release its policy decision in a statement at 2 p.m. Eastern. But investors are likely to focus most intently on a news conference scheduled for 2:30 p.m. with Jerome H. Powell, the Fed chair. Central bankers will not release quarterly economic projections at this gathering — the next set is scheduled for release after the Fed’s June 11-12 meeting.

Persons: Jerome H, Powell Organizations: Federal

☆ Stocks pop after Fed decision, oil plunges, earnings mixed — what to watch in the market
▼ + stars: | 2024-05-01 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +6 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Before last week's strong quarter, CNBC learned that Alphabet's Google had laid off hundreds of employees from so-called core teams. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Jerome Powell, Powell, It's, Morgan Stanley, DuPont, Jim, Laxman Narasimhan's, Estee Lauder, Stanley Black, Decker, Bernstein, Toni Sacconaghi, Apple, Sacconaghi, Jim Cramer's Organizations: CNBC, Federal Reserve, Dow, Nasdaq, Google, West Texas, Coterra, Cruise, Viking Holdings, Investment, Morgan, GE Healthcare, Nvidia, Big Tech, Linde, Bausch Health, Apple, Jim Cramer's Charitable Locations: India, Mexico, Gaza, WTI, Wall, China

Average 30-year mortgage rates continue to hover around 7% after spiking up earlier this month, according to Zillow data. This means we could see mortgage rates improve somewhat as we approach fall. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. Lower mortgage rates will bring more buyers onto the market, putting upward pressure on prices.

Persons: decelerating, Fannie Mae Organizations: Federal, Investors, Zillow, Federal Reserve, Mortgage, Association, ARM Locations: Chevron

☆ The spring homebuying season isn’t what it used to be, thanks to the Fed
▼ + stars: | 2024-04-30 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

All that has caused the spring homebuying season to take a timeout — and could spell trouble for the remainder of the year. Since 1999, more than a third of home sales for the entire year occur between March and June on average, according to Freddie Mac data. Given the Fed is in no rush to cut interest rates, Khater expects mortgage rates to remain elevated for longer. Taken together, all these factors will likely put upward pressure on home prices, Khater and his team said in the report. “Our outlook does depend on mortgage rates, which are creating their own seasonality,” she added.

Persons: That’s, ” Zillow, Nicole Bachaud, “ Buyers, Bachaud, Sam Khater, Freddie Mac, Khater, ” Organizations: New, New York CNN, Federal Reserve, CNN, “, Fed Locations: New York, Texas, Florida

☆ Americans’ pay gains rose faster than expected so far this year
▼ + stars: | 2024-04-30 | by ( Alicia Wallace | ) edition.cnn.com time to read: +1 min

The Employment Cost Index rose a seasonally adjusted 1.2% last quarter, faster growth than the 0.9% increase the prior quarter, according to Bureau of Labor Statistics data released Tuesday. On an annual basis, the index that measures changes in wages and benefits was unchanged at 4.2% for the year ending in March. Economists had expected quarterly growth to come in at 0.9% and for annual gains to slow to 4%. The Federal Reserve is closely monitoring the trajectory of wage gains as there’s a concern that accelerated compensation growth may serve as an inflation pressure. The index also includes controls for changes in the composition of employment, essentially measuring wage costs for the same jobs over time.

Persons: ’, Economists Organizations: CNN, of Labor Statistics, Dow, Nasdaq, Federal, Fed

☆ Biden administration faces onslaught of lawsuits as business groups claim regulatory overreach
▼ + stars: | 2024-04-29 | by ( Megan Cassella | In | ) www.cnbc.com time to read: +2 min

They argued that the FTC lacked the authority to impose it in the first place. The playbook is becoming a familiar one: The Biden administration finalizes a new rule regulating business, and the Chamber and industry lobbying groups immediately sue to stop it by arguing that the agency has overstepped its authority. So far this year, the administration has finalized seven rules, addressing everything from independent contractors to credit card late fees and climate disclosure requirements, only to see them met with near-immediate lawsuits by the Chamber and other groups. Officials at both the Chamber and ABA emphasize that litigation is always a last resort. But they see it as a necessary step when agencies issue regulations that go outside the scope of their authority.

Persons: WASHINGTON, Biden, finalizes, Joe Biden's, Trump, Obama's, It's, Neil Bradley Organizations: Federal Trade Commission, U.S . Chamber of Commerce, FTC, Chamber, American Bankers Association, ABA, CNBC Locations: U.S, Washington

☆ My Investment Banking Job Nearly Destroyed Me
▼ + stars: | 2024-04-29 | by ( Christine Ji | ) www.businessinsider.com time to read: +9 min

I hadn't expected to be lying on the office floor thinking that I needed to quit my investment banking job — yet there I was. The allure of an investment banking job is seductive. Being an investment banking analyst was much sexier in theory than practiceI knew banking would be intense from the internship, but nothing could've prepared me for just how intense the full-time role was. There's very little advice out there on how to quit your investment banking job. I can't say I loved investment banking to that degree, so I walked away.

Persons: could've, nauseous, there'd, Ji Organizations: Business, Ivy League, Wall

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