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☆ A 'momentous week' ahead as the Fed, ECB and Bank of Japan near pivot point
▼ + stars: | 2023-07-24 | by ( Elliot Smith | ) www.cnbc.com time to read: +7 min

Bloomberg | Bloomberg | Getty ImagesThe U.S. Federal Reserve, Bank of Japan and European Central Bank will all announce key interest rate decisions this week, with each potentially nearing a pivotal moment in their monetary policy trajectory. The Fed Each central bank faces a very different challenge. "The FOMC will, however, maintain a tight monetary policy stance to aid continued softening in demand and consequently, inflation." Several analysts over the past week have suggested that policymakers will remain "data dependent," but push back against any talk of interest rate cuts in the near future. ECB Chief Economist Philip Lane last month warned markets against pricing in cuts to interest rates within the next two years.

Persons: Goldman Sachs, Michael Cahill, Cahill, Steve Englander, Englander, Philip Lane, Paul Hollingsworth, Christine Lagarde, Hollingsworth Organizations: Bank of Japan, U.S, Bloomberg, Getty, . Federal Reserve, European Central Bank, ECB, Federal, Moody's Investors Service, Standard Chartered, Downside, Fed, BNP, Bank of Locations: U.S, North America, Bank of Japan, Japan

☆ 15-Year vs. 30-Year Mortgage: How Do You Choose?
▼ + stars: | 2023-07-16 | by ( Aly J. Yale | ) www.wsj.com time to read: +8 min

15-year mortgage rates vs. 30-year mortgage ratesHowever, mortgage rates vary by term length, too. Pros and cons of a 15-year mortgageA 15-year mortgage has some perks. “A 15-year mortgage would be ill-advised if a customer is tight on their budget,” says Chuck Meier, mortgage director at Sunrise Banks. “You can make the 15-year payment on a monthly basis, receiving the benefits of a 15-year mortgage,” Lindner says. “If the higher payment becomes a challenge, you can revert to the lower 30-year mortgage payment.”

Persons: Aly J, Freddie Mac, Melissa Cohn, you’re, ”, Chuck Meier, ” Cohn, Scott Lindner, ” Lindner Organizations: Yale, it’s, PMI, William, Sunrise Banks, TD Bank Locations: —

☆ First investment, cost basis, selling 'dogs' — we answer 3 questions from members
▼ + stars: | 2023-07-16 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

We will only consider more general questions about the investment process or stocks in the portfolio or related industries. However, it's important to also consider a company's underlying fundamentals and not just the stock price. After all, price is what you pay and value is what you get, so it's important to consider whether the stock price reflects the business fundamentals. For us, that might be Apple (AAPL) and Nvidia (NVDA) as we've designated these "own, don't trade" stocks. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jim Cramer, — Sandi D, — Scott K, you've, —, whittle, Jim, NVDA, — Keith, Jim Cramer's, Jim Cramer Rob Kim Organizations: investingclubmailbag, Investment Club, New Orleans, Apple, Nvidia, Jim Cramer's Charitable, CNBC

☆ Americans' wages are finally outpacing inflation. But could it last?
▼ + stars: | 2023-07-16 | by ( Alicia Wallace | ) edition.cnn.com time to read: +5 min

For more than two years, persistent and pervasive inflation has taken big bites out of Americans’ paychecks. Annual real weekly wages were up 0.6% last month, a rate that’s a tick below the 0.7% gain seen in February 2020. June also marked the second consecutive month of year-over-year real hourly wage growth — the first back-to-back months of gains since early 2021. Fears of a dreaded “wage-price spiral” — when rising wages and prices feed into each other — have made a bogeyman out of wage growth. And finally, supply-side inflation has drastically cooled to the point where annual inflation is practically flat — which, ideally, gives firms more wiggle room to pay workers, she said.

Persons: hasn’t, ’, That’s, ”, William Ferguson, Gertrude B, Austin, it’s, Alex Pelle, “, Sung Won Sohn, Ben Bernanke, ” Pelle, Julia Pollak, they’ve Organizations: Minneapolis CNN, Bureau of Labor Statistics, Grinnell College, stoke, Mizuho Securities, Loyola Marymount University, SS, San Francisco Fed, BLS Locations: Minneapolis, Iowa

☆ Georgia GOP Gov. Brian Kemp says it's 'humbling' that some people think he'd be 'a good president,' but he remains focused on his current role
▼ + stars: | 2023-07-15 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

Kemp said it was "humbling" that his name has been floated as a GOP presidential candidate. Kemp in a recent interview with CBS-affiliate WRBL said that his priority was leading Georgia. "It's humbling that there are people out there that think I would make a good president. However, Kemp left some wiggle room in his comments, even as he previously said he wouldn't seek the White House in 2024. And I just think a Republican president will get the ox out of the ditch, if you will.

Persons: Kemp, WRBL, Brian Kemp —, Donald Trump —, Ron DeSantis, We've, wouldn't, —, Stacey Abrams, Joe Biden Organizations: GOP, CBS, Service, Republicans, Kia, Florida Gov, Trump, House, Democratic, Republican Locations: Georgia, Wall, Silicon, Columbus , Ga, Florida

☆ The US consumer isn't in trouble. Here are 5 stats that show Americans will be fine even amid dwindling savings and student loan payments.
▼ + stars: | 2023-07-15 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

That's true even amid concerns of dwindling excess savings and the imminent resumption of student loan payments. The consumer is important to track for because about 70% of the US economy is driven by consumer spending, which relies heavily on the daily spending habits of more than 300 million Americans. Carson Group"When thinking about debt, the key question is whether households are able to service that debt," Detrick. Based on estimates from JPMorgan, the household debt service ratio at the end of the second quarter was 9.7%. Strong spending trends.

Persons: Carson, Ryan Detrick, it's, that's, Detrick Organizations: Service, Carson, JPMorgan, JPMorgan Consumers Locations: Wall, Silicon

☆ DeSantis campaign urges patience for breakout moment with eye toward first debate
▼ + stars: | 2023-07-14 | by ( Steve Contorno | ) edition.cnn.com time to read: +11 min

CNN —Facing a long summer of running from behind former President Donald Trump, Florida Gov. Ron DeSantis is for now resisting calls to dramatically change course in his presidential campaign, instead targeting the first debate in late August as his opportunity to alter the trajectory of the race. DeSantis’ campaign has already surpassed the donor threshold requirement of 40,000 unique donors and appears on track to meet the polling threshold as well. DeSantis’ political team expects his activity in the coming weeks may look subdued compared to other candidates who may need an attention-grabbing moment to attract donors and support to meet the debate requirements. “People want to support Ron but don’t like this kind of stupid stuff,” the fundraiser told CNN.

Persons: Donald Trump, Ron DeSantis, doesn’t, Trump, it’s, DeSantis, “, Fox’s Maria Bartiromo, Privately, Chris Christie, “ That’s, ”, Erick Erickson, Erickson, Steve Cortes, I’ll, ” Cortes, ” DeSantis, Phillip Huffines, Biden, ” Huffines, he’s, ” Erickson, Jeff Angelo, ” Angelo, Casey, DeSantis ”, Joe Biden, Caitlyn Jenner, Tomi Lahren, Ron Organizations: CNN, Florida Gov, GOP, Trump, New, New Jersey Gov, Summit, PAC, Republicans, Biden, Republican, Twitter, Miss, “ Locations: Florida, South Florida, New Jersey, Iowa, Trump . Iowa, New Hampshire, Texas, Dallas, Ohio, Wisconsin

☆ Iraq-Iran gas-for-oil barter would likely violate US sanctions
▼ + stars: | 2023-07-14 | by ( Arshad Mohammed | ) www.reuters.com time to read: +3 min

However, three former U.S. officials said a barter would likely run afoul of U.S. sanctions. There has been speculation the waiver might be amended to allow barter, an issue the official declined to address. We have no comment at this time regarding reports of a barter arrangement between Iraq and Iran," the official said. Former U.S. officials said the Treasury Department, which oversees most U.S. sanctions against Iran, defines the term "transaction" so broadly that it would cover a barter exchange. "As far as a strictly legal question, it absolutely does violate U.S. sanctions," he added.

Persons: Mohammed Shia, Sudani, Richard Goldberg, Goldberg, Antony Blinken, that's, Arshad Mohammed, Josie Kao Organizations: Iraqi, Foundation for Defense, Democracies, Trump, State Department, Iran, U.S, Treasury Department, Treasury, Thomson Locations: Tehran, U.S, Iraq, Iran, Baghdad, Iraqi, Washington

☆ Inflation is 'history' for the U.S, says veteran economist Steve Hanke
▼ + stars: | 2023-07-13 | by ( Sumathi Bala | ) www.cnbc.com time to read: +1 min

watch nowThe U.S. no longer has an inflation problem, according to veteran economist Steve Hanke. "Money supply changes cause changes in the price index and inflation." The core consumer price index, which strips out volatile food and energy prices, rose 4.8% from a year ago and 0.2% month-on-month. "When inflation was going and roaring, the producer price index roared up first and then the consumer price index roared up. Steve Hanke Professor, Johns Hopkins University

Persons: Steve Hanke, CNBC's, Hanke, Leonardo Munoz Organizations: Johns Hopkins University, Corbis, Getty, Federal Reserve, Traders, Johns Hopkins Locations: U.S, United States, New York City

☆ A 'Frankenfish' that can live without water for days and officials instruct to kill on sight was spotted deep in Missouri, worrying conservationists
▼ + stars: | 2023-07-07 | by ( Emily Swaim | ) www.businessinsider.com time to read: +6 min

"They're in the Mississippi River already, so that is a huge highway for the species," Knuth said. Dave Knuth, Duck Creek Conservation AreaWhile northern snakeheads normally avoid humans, they are very protective of their young. In 2019, researchers looked at how the Blackwater River watershed changed before and after northern snakeheads invaded. Dave Knuth, Duck Creek Conservation AreaIf you happen to spot a northern snakehead, the US government recommends killing it right away. If you find and kill a northern snakehead, you can report the capture to your local fish and game agency.

Persons: Dave Knuth, Knuth, White Organizations: Service, Conservation, Missouri Department of Conservation, DC, Washington Post, Fish Commission, Conservation Area, Conservation Center Locations: Missouri, Midwest, Wall, Silicon, Duck, Conservation Area, Asia, Africa, Crofton , Maryland, East, Maryland, Virginia, Arkansas, Northern, Mississippi, Blackwater, North America

☆ Ex-Prisoners Face Headwinds as Job Seekers, Even as Openings Abound
▼ + stars: | 2023-07-06 | by ( Talmon Joseph Smith | More About Talmon Joseph Smith | ) www.nytimes.com time to read: +1 min

Mr. Hennings served 20 years in prison for reckless homicide in a confrontation he and his uncle had with another man. Even though he mostly hires formerly incarcerated men — at least 20 so far — he candidly tells some candidates that he has limited “wiggle room to decipher whether you changed or not.” Still, Mr. Hennings, 51, is quick to add that he has been frustrated by employers that use those circumstances as a blanket excuse. “I understand that it takes a little more work to try to decipher all of that, but I know from hiring people myself that you just have to be on your judgment game,” he said. “It’s hard for them not to look at you a certain way and still hard for them to get over that stigma,” Mr. Hennings said. “And that’s part of the conditioning and culture of American society.”

Persons: Hennings, —, ”, Mr

☆ What Supreme Court ruling against Biden's student loan forgiveness plan could mean for the U.S. economy
▼ + stars: | 2023-06-30 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Seksan Mongkhonkhamsao | Moment | Getty ImagesThe Supreme Court struck down the Biden administration's student loan forgiveness plan Friday. "The Supreme Court decision to strike down loan forgiveness should have no meaningful impact on the economy," said Mark Zandi, chief economist of Moody's Analytics. The fight against inflation gets a boostIt's challenging to judge the economic effect of a sweeping policy such as student loan forgiveness. However, the resumption of monthly student loan payments in October, after a three-year pause, will likely have a bigger effect. That said, there are student loan policies that have already been enacted by the Biden administration that will likely help borrowers affected by Friday's Supreme Court ruling, economists said.

Persons: Seksan, —, Mark Zandi, Shai Akabas, Zandi, Tim Quinlan, Quinlan, Biden Organizations: Biden, Moody's, Finance, Supreme, Reserve, Center, Wells, Wells Fargo Economics, Friday's Locations: U.S, Wells Fargo

The pan-European STOXX 600 index (.STOXX) closed 0.7% higher, tracking overnight gains in Wall Street. Shares of Sage Group Plc (SGE.L) gained 5.1% to a 23-year high after J.P. Morgan upgraded its rating on the stock to "overweight" from "neutral". Shares of chip equipment maker ASML Holding (ASML.AS) rose 2.3% while Nordic Semiconductor (NOD.OL) jumped 6.4%, making technology (.SX8P) among the top European sectoral gainers. Semiconductor shares were in focus after a report stated the U.S. was considering new restrictions on exports of artificial intelligence chips to China. Also boosting the STOXX 600, Roche Holding (ROG.S) gained 1.5% after the U.S. health regulator declined to approve Regeneron's (REGN.O) Eylea drug.

Persons: Christine Lagarde, Jerome Powell, what's, Danni Hewson, AJ Bell, Morgan, Hewson, Roche, Morgan Stanley, Christian Klein, Matteo Allievi, Subhranshu Sahu, Sherry Jacob, Phillips, Alex Richardson Organizations: Sage Group, UBS, CS, . Federal, ASML, Nordic Semiconductor, Semiconductor, Carrefour, Credit Suisse, SAP, Thomson Locations: Wall, U.S, China, Swiss, Gdansk, Amruta, Bangalore

☆ UK has little wiggle room on mortgage aid
▼ + stars: | 2023-06-21 | by ( Francesco Guerrera | ) www.reuters.com time to read: +4 min

LONDON, June 21 (Reuters Breakingviews) - UK Prime Minister Rishi Sunak is under pressure to provide relief for mortgage borrowers buckling under soaring interest rates. The problem is that mortgage relief dilutes the Bank of England’s fight against inflation, which remained stubbornly high at 8.7% in May. The UK government is to meet mortgage lenders to discuss helping households struggling with their home loans, finance minister Jeremy Hunt told parliament on June 20. However, Hunt ruled out introducing state-backed support to help mortgage borrowers facing higher costs due to soaring interest rates. Hunt said that offering government mortgage relief would be inflationary.

Persons: Rishi Sunak, Liz Truss, –, Jeremy Hunt, BoE, Hunt, George Hay, Oliver Taslic Organizations: Reuters, UK Finance, Conservatives, Labour Party, Bank of England’s, Conservative Party, Bank of England, Thomson Locations: Spain, Poland

☆ Mortgage points may help homebuyers lower monthly costs amid high interest rates. How to know if this strategy is right for you
▼ + stars: | 2023-06-17 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Other experts say buyers purchasing mortgage points can be a great strategy for the right situation. Being able to lower that monthly payment can really help give some more wiggle room in people's budgets and help them reach affordability. "Being able to lower that monthly payment can really help give some more wiggle room in people's budgets and help them reach affordability," Bachaud said. In addition to higher upfront costs, home buyers should also weigh other factors before buying mortgage points. But putting those sums toward a down payment likely will not make much of a difference on your monthly costs, Elliott said.

Persons: Getty, Grubbs, Nicole Bachaud, Bachaud, Kamila Elliott, Atlanta . Elliott, Elliott, Stephanie Grubbs Organizations: Fed, Zillow, Wealth Partners, CNBC, Douglas Locations: Atlanta ., Douglas Elliman

Our experts answer readers' personal loan questions and write unbiased product reviews (here's how we assess personal loans). Secured personal loans are backed by collateral just like other types of secured loans, but for personal loans, they're a bit different. Compare Personal Loan RatesWhen is a line of credit better than a personal loan? Interest rates for personal lines of credit and credit cards tend to run higher, on average, than those for personal loans. Interest rates for personal lines of credit and credit cards tend to run higher, on average, than those for personal loans.

Persons: —, Dani Pascarella, Pascarella, You'll, might've, caterer Organizations: Service, Chevron

☆ The future of AI in finance might be about accepting what we don't know
▼ + stars: | 2023-06-08 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Such a suggestion is blasphemy — and potentially illegal — on Wall Street. But as AI tech continues to advance, one Wall Street executive is wondering if there isn't some wiggle room on those types of policies. But what really caught my eye was Friedman's comments around having to fully understand how the AI works. That's a fascinating thought exercise, and one worth having with how quick AI tech seems to be evolving these days. Wall Street is getting fed up with Amazon.

Persons: Dan DeFrancesco, we've, Adena Friedman, shouldn't, Simon Berlyn, Robert Kindler, Morgan Stanley, Paul, Weiss, Garrison, Marc Lasry, Frank, Charlie Javice, Sam Altman, Bernstein, Rod Stewart, We've, Jeffrey Cane, Nathan Rennolds Organizations: PE, Disney, Pixar, . Finance, Nasdaq, Bloomberg Invest, Milwaukee Bucks, JPMorgan, Amazon, Communist Party, LinkedIn Locations: NYC, Point72, Rifkind, Wharton, New York, London

☆ UBS’s $10 bln state guarantee is a useful fantasy
▼ + stars: | 2023-06-07 | by ( Liam Proud | ) www.reuters.com time to read: +4 min

LONDON, June 7 (Reuters Breakingviews) - UBS (UBSG.S) and the Swiss government have negotiated a state backstop that neither side wants to use. The scheme, designed to sweeten the Credit Suisse (CSGN.S) rescue, would see the government cover $10 billion of losses on former Credit Suisse assets after UBS swallows the first $6 billion. One option could be for the state to guarantee only a limited subset of former Credit Suisse assets – just the ones that UBS plans to get rid of, for example, like fixed-income derivatives. The government could also insist on dividend or buyback restrictions if the Swiss bank ever taps the scheme. The guarantee would only kick in after UBS has swallowed 5 billion Swiss francs ($6 billion) of losses.

Persons: Sergio Ermotti, Karin Keller, Sutter, Ermotti, that’s, ”, Neil Unmack, Oliver Taslic Organizations: Reuters, UBS, Swiss, bank’s, Credit Suisse, Switzerland’s Social, –, RBC, AG, U.S . Securities, Exchange Commission, Thomson Locations: Swiss

U.S. District Judge Sunshine Sykes said Artikal Sound System failed to argue that the writers of "Levitating" ever had access to the group's 2017 song "Live Your Life." Sykes gave the group an opportunity to file a new complaint. Representatives for Lipa and Artikal Sound System did not immediately respond to requests for comment. Sykes on Monday agreed with Lipa that Artikal Sound System's complaint failed to show that the defendants could have encountered its song before writing "Levitating." Sykes said this was not enough to demonstrate the song was widely disseminated enough that the "Levitating" songwriters could have heard and copied it.

Persons: Florion, Lipa's, Sunshine Sykes, Sykes, Sandy Linzer, Russell Brown, Don Diablo, Blake Brittain, Richard Chang Organizations: Singer Dua, Skanderbeg, REUTERS, Dua Lipa, Warner Records, U.S, District, Thomson Locations: Tirana, Albania, British, Los Angeles, Florida, New York, Lipa, Washington

☆ As emergency savings drop and credit card balances rise, experts say taking 3 steps can help
▼ + stars: | 2023-05-30 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

To slow the price growth, the Federal Reserve has steadily raised interest rates, which has posed another problem for households: higher interest rates on debt. That marks the first time in 20 years balances have not fallen following the holiday season, according to the central bank's research. Some people are seeking help after they've already fallen behind and have started to get debt collection calls, he said. 'Think seriously about delaying discretionary purchases'As prices and interest rates have gone up, it's a good time to think about putting off unnecessary purchases, according to Hamrick. But the regret that often ranks highly is not saving more for long-term goals such as emergency savings or retirement, he said.

☆ 3 reasons why even China doesn't want the yuan to replace the dollar as the world's reserve currency
▼ + stars: | 2023-05-29 | by ( Huileng Tan | ) www.businessinsider.com time to read: +8 min

The Chinese yuan is one of the top contenders challenging the USD's dominance as a reserve currency. However, Beijing may not be fully supportive of making the yuan the reserve currency of choice. Here's why even China isn't that keen on de-dollarizing the world economy and making the yuan the top reserve currency. So, the US will need to contend with ever larger amounts of deficit, in order to maintain its pre-eminent reserve currency position. Given the issues standing in Beijing's way, it's unlikely for the yuan to take over the greenback's position as the world's reserve currency of choice, said Green.

☆ Summer Is Coming. It’s Time to Check Your Feet.
▼ + stars: | 2023-05-26 | by ( Jancee Dunn | ) www.nytimes.com time to read: +1 min

For the past few months, my feet have been sheathed in socks and slippers — like cave fish, hidden from the light. In preparation, I carefully inspect every inch of my feet to ensure they are ready to show to the world. Suddenly swollen feet can indicate high blood pressure, said Dr. Kirk Geter, the chief of podiatry at Howard University Hospital. Swelling can also be a sign of gout or kidney problems, Dr. Geter added, while tingling and numbness in the feet can indicate diabetes. So each day, you should inspect the bottoms and tops of your feet — as well as between your toes — and wiggle your toes around, Dr. Geter said.

Ahead of an election on May 21, a cost-of-living crisis that is eroding earnings is foremost in voters' minds. For Klaoudatou it means voting for anyone but the incumbent conservative New Democracy or the opposition leftist Syriza. Reuters GraphicsThree international bailouts saved Greece from toppling out of the euro zone during a decade-long debt crisis that peaked in 2015. "Εven during the crisis - and this is the joke - I didn't think so much before spending a single extra euro," Klaoudatou told Reuters. Reuters GraphicsPAYCHECK BARELY GETS TO PAYCHECKOne in two Greek households could barely get by on their monthly income last year.

☆ The Pressure of Motherhood Is Something Else - The New York Times
▼ + stars: | 2023-05-13 | by ( Daniela J. Lamas | ) www.nytimes.com time to read: +2 min

I have taken supplements and prescribed myself an anti-nausea medication that has the side effect of increasing the hormone responsible for milk production. And I know, rationally, that this had nothing to do with love, that supplementing with formula is more than OK. For all the pressure I have felt as a doctor or a writer, there is nothing that compares with the expectations placed on mothers. We are supposed to fall in love with our babies immediately, to experience motherhood as a transcendent state. Not exactly as I expected, nothing ever is — not family, not motherhood — but something beautiful.

☆ Lawmakers press companies that collect U.S. consumer data to reveal how they buy and sell it
▼ + stars: | 2023-05-10 | by ( Lauren Feiner | ) www.cnbc.com time to read: +3 min

In the letters, 10 lawmakers asked the companies for detailed responses on the types of sensitive information they gather, such as health, location and phone data, including apps consumers download to their devices. The companies were also asked what information they collect on minors. Last month, the subcommittee on oversight and investigations held a hearing with expert witnesses to examine "the role of data brokers in the digital economy." In that report, the regulator recommended that Congress force brokers to give consumers greater control over their data, but the "data brokers can easily circumvent existing rules and laws," the letter said. Here's the full list of data brokers who received the letter::AcxiomAtDataBabel StreetCoreLogic SolutionsEpsilon Data ManagementEquifaxExperianGravy AnalyticsInteliusKochavaLiveRampMylifeOracle AmericaPeopleConnectPlacer.aiRELXSafegraphSpokeoThomson ReutersTransUnionVerisk AnalyticsWhitepagesSubscribe to CNBC on YouTube.

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