Rapid inflation and hikes to interest rates have fanned fears of an economic slowdown or recession.
Berkshire Hathaway HomeServices - real estate brokerage revenues fell 22% and after-tax earnings fell 60%, as transaction volumes fell and revenues from mortgage services dropped.
- real estate brokerage revenues fell 22% and after-tax earnings fell 60%, as transaction volumes fell and revenues from mortgage services dropped.
However, the slowdown in Berkshire's consumer businesses may well signal a broader downturn in consumer spending across the US economy.
The Federal Reserve responded by hiking interest rates from nearly zero to north of 5% today.
Persons:
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Organizations:
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Locations:
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