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Sales of $100 million homes are on track to double this year, as surging financial markets and hopes for rate cuts fuel a recovery in the ultra-luxury real estate market, according to new reports. As of July 15, six homes in the U.S. have sold for more than $100 million, according to data from Miller Samuel and Douglas Elliman. If the sales pace continues, it would more than double last year's total and likely eclipse the record of nine homes sold for over $100 million in 2021. But sales of homes priced at $50 million, $20 million and even $10 million are all signaling a strong rebound for the ultra-luxury real estate market after its decline in 2023. A penthouse at Central Park Tower — the tallest residential building in the world — closed for $115 million to an unknown buyer.
Persons: Robert Frank, Miller Samuel, Douglas Elliman, Jonathan Miller, Aman, Vladislav Doronin, Oakley, James Jannard Locations: U.S, Manhattan, York, Russian, Palm, Tarpon Island, California
The stock market rally is likely to continue, says BofA technical analyst Stephen Suttmeier. Suttmeier highlighted four positive signals that suggest a healthy bull market in a note on Tuesday. AdvertisementAs the stock market hits a series of record highs in 2024, there are positive signals suggesting the rally can keep going. That money could serve as fuel for a continued stock market rally, especially if the Federal Reserve cuts interest rates, making the current 5% cash yield less attractive. AdvertisementThe financial conditions index last sparked a major negative divergence towards the end of 2021, when the S&P 500 was rising even as the financial conditions index was declining.
Persons: Stephen Suttmeier, Suttmeier, Organizations: Service, Bank of America, BAA, Federal Reserve, Bank of America Fed, Chicago Fed
Learn moreIn addition to the thousands of products on sale during Amazon Prime Day, the Apple Watch collection of smartwatches is also discounted. Right now, the Apple Watch SE (2nd Gen) is down to an all-time low, and the Series 9 is an impressive 30% off. Top Apple Watch dealsApple Watch SE (2nd Gen) 40mm $169.99 $249.00 Save 32% The second-generation Apple Watch SE is an impressive entry-level wearable that shares the same processor as the Series 8 and Ultra. View at Amazon What we like Check mark icon A check mark. The Apple Watch SE is the entry-level, budget-friendly option, but don't write it off just because of that.
Persons: you've, you'll, Siri, Belkin, it's, It's Organizations: Business, Amazon, Apple Watch, Apple, Apple Health, Prime, Amazon Apple, Amazon Belkin Apple, Watch, Amazon Prime
Few would envy the task of competing against market leader Nvidia, which has between 70% and 90% market share, according to Mizuho Securities. Still, Nvidia gets most of the hype — and the revenue. Though the company will not confirm it, The Information reported last month that Cerebras has confidentially filed for an IPO. Still, Feldman expects that even consumer-directed AI models will grow larger, and larger models need faster chips. Competing with that mindshare is an uphill battle as Nvidia faces more competition and goes on defense.
Persons: , Andrew Feldman, I'm, Feldman, Cerebras, David, He's, Cerebras's, Ramsey Cardy Cerebras, Susan Organizations: Service, Palo, Nvidia, Mizuho Securities, Business, Big Tech, Intel, Google, AMD, GSK, AstraZeneca, IBM, Eclipse Ventures Locations: California, Palo Alto , California, It's
Many young conservatives also support student loan cancellation, with 49% of Gen Z and millennial Republicans surveyed saying some or all outstanding education debt should be erased. As president, Trump called for the elimination of the U.S. Department of Education's existing loan relief programs, including the popular Public Service Loan Forgiveness initiative. He also wanted to slash the department's budget, and his administration halted a regulation aimed at providing loan forgiveness to those defrauded by their schools. He has repeatedly attacked Biden's loan relief policies, and he said in a campaign video in late 2023 that he wants to close the Education Department altogether. For critics of broad student loan forgiveness, Biden's new plan looks a lot like his first.
Persons: Joe Biden's, Ryan Walker, Walker, Gen, Z, Trump, Biden's, Biden, Andrew Bailey, Bailey Organizations: Republican, Bloomberg, Getty, Biden, Heritage Action, America, U.S . Department, Public, Education Department, Supreme Locations: Kansas, Missouri, SocialSphere, U.S, . Missouri, Arkansas , Iowa , Kansas , Nebraska, South Carolina
Spatial intelligence allows robots to navigate and interact with their environment more efficiently, which means that robots can perform more complex tasks with higher precision and adaptability. AdvertisementEven so, investors say that spatial intelligence represents a quantum leap for the robotics industry, a space already benefiting from an AI boom. Lior Susan, CEO and founder of Eclipse Ventures, is betting that the difficulty of building AI with spatial intelligence will yield bigger returns in the future. "You see this boom of generative AI startups that are actually buying a lot of compute that do not have a business model yet," Susan said. Big tech is rolling in, tooBigger tech companies are also gearing up to compete in robotics' spatial intelligence race—both as builders and investors.
Persons: , Andreessen Horowitz, Catalyst, Howard Morgan, Max Rimple, Erin Price, Wright, Fei, Fei Li, Kanu Gulati, Khosla, , Gulati, Lior Susan, Susan, Jeff Bezos, Jensen Huang Organizations: Service, Khosla Ventures, Business, B Capital, Catalyst, Lightspeed Venture Partners, Coatue Management, Stanford University, Eclipse Ventures, Intelligence, Lux, Sequoia Capital, Microsoft, Nvidia, Carbon Robotics, AIs Locations: LLMs, OpenAI, Lux Capital, Taipei
A Debate Cheat Sheet for Business
  + stars: | 2024-06-27 | by ( Andrew Ross Sorkin | Ravi Mattu | Bernhard Warner | ) www.nytimes.com   time to read: +3 min
Talking pointsAll eyes will be on CNN at 9 p.m. Eastern, when President Biden and Donald Trump face off in their first debate since 2020. Among the keenest watchers will be executives and investors looking for signs about how the candidates might handle the economy and business in a second term. There will be plenty to scrutinize in the 90-minute, audience-free debate, including what the candidates say and how they say it. What will Biden and Trump say about some of the key issues? In Thursday night’s debate, “markets probably care more about presentation than policy pledges,” Paul Donovan, an economist at UBS, wrote in a client note.
Persons: Biden, Donald Trump, Trump, ” David Bahnsen, DealBook, ” Paul Donovan, Elon Musk, There’s, J.D, Vance of, Doug Burgum, Marco Rubio Organizations: CNN, Bahnsen, UBS, Biden, Trump, Times, Gov Locations: Atlanta, Vance of Ohio, North Dakota, Marco Rubio of Florida
Cerebras Systems, a startup trying to challenge Nvidia on the AI chip battlefield, is reportedly headed for an IPO toward the end of 2024. This is one of the primary elements holding back even some AWS customers from using Amazon's AI chips. But, most AI developers must go through gnarly work to change their software if they want to change their hardware. His startup Vimaan is building tech for a future "dark warehouse" that requires no humans to operate. Advertisement"Am I gonna take a chance to switch out a whole infrastructure that we've built on the Nvidia platform?"
Persons: , Lior Susan, Susan, CUDA, Thomvest, they're, He's, Padval, Jensen Huang, Thomas Sohmers, Ganapathi, Vimaan, Pavdal Organizations: Service, Cerebras Systems, Nvidia, Eclipse Ventures, Business, CUDA, NVIDIA CUDA, AMD, Qualcomm, Google, Intel, UXL Foundation, Amazon's Industrial Innovation Fund Locations: CUDA
Kyiv and Moscow have both sought to significantly ramp up production of unmanned systems as each side looks to out-produce their enemy and score a numerical advantage. AdvertisementUkrainian officials said in December that Kyiv plans to produce one million first-person-view, or FPV, drones by the end of this year. A Ukrainian soldier of the 71st Jaeger Brigade prepares FPV drones at the frontline near Avdiivka, in the Donetsk region, on March 22, 2024. In February, Fedorov said Ukraine will reach its FPV production goals by the end of the year. Advertisement"You can track the successes of Ukraine's long-range program by the surprising news coming from Russia," Fedorov said.
Persons: , it's, Mykhailo Fedorov, Chasiv Yar, Jose Colon, Fedorov, " Fedorov Organizations: Service, Business, Anadolu, Getty, 71st Jaeger Brigade, AP, BI, Ukraine doesn't, Fleet Locations: Ukraine, Kyiv, Moscow, Ukrainian, Russia, Donetsk, Avdiivka, Crimean
“We’re constantly innovating, constantly bringing excitement to the brand, and we’re fresh, fresh daily,” said CEO Josh Charlesworth on a first-quarter earnings call in May, according to a transcript made available by FactSet. But fans had a few words for Krispy Kreme on that score. “This is where I am just confused by the decision making process,” noted one commenter under an Instagram post by “Snackolator“ about the release. Krispy Kreme has launched its own share of US-exclusive doughnuts, including its most recent collaboration with singer Dolly Parton, the Southern Sweets Doughnut Collection, announced in May. A representative for Krispy Kreme declined to comment on whether the “Friends” collaboration would be made available in the US and told CNN there was “nothing additional to share at this time.”
Persons: , Krispy Kreme, “ We’re, Josh Charlesworth, “ Snackolator, Ashley Smith, , Monica Geller’s, Courtney Cox, Ross Geller’s, David Schwimmer, Rachel Green, Jennifer Aniston, Dolly Parton Organizations: CNN, Ireland, Warner Bros, FactSet Locations: New York
An airplane encounterAmy and Mike met on March 23, 2006, on an airplane about to depart Los Angeles International Airport. But then Mike apologized – half jokingly, half sincere – for ruining Amy’s flight. First in the coffee line, and later as they walked through the airport, Amy and Mike continued chatting. Mike didn’t want Amy to leave, but Amy wasn’t going to abandon a great career opportunity. Later this year, Amy and Mike hope to take their kids to Japan – an 11 hour plus flight from LAX.
Persons: Amy Osmun, she’d, Mike Gilberstadt, They’d, Amy, Mike, , , wasn’t, Mike couldn’t, dietician, She’d, sauntering, Mike —, , Mike –, Mike’s, I’d, he’d, Amy marveled, Mike didn’t, Amy wasn’t, ” He’s, Amy Gilberstadt “, Valentine, Amy Gilberstadt, ” Amy, “ I’d, I’ve, I’m, “ You’re, Barbies, ‘ I’ve, ” “, Amy’s, “ We’re, they're, Kelli Gase, they’ve Organizations: CNN, CNN Travel, Los Angeles International Airport, California State University, Amsterdam Schipol Airport, LAX, Scotland, TiVo, . Locations: Amsterdam’s, Scotland, Greece, Southern California, Amsterdam, California, Mike’s, Orange County, San Diego, Venice, Italy, Ireland, Hong Kong, India, Japan, China, Australia, New Zealand, Tahiti, United Kingdom, Alaska, Vermont
"Real" earnings measure the net growth in workers' wages after inflation. The trend of growth in annual real earnings has persisted since May 2023, according to BLS data. That marks a reversal from April 2021 to April 2023, when inflation spiked and eclipsed growth in the average worker's paycheck. That month, the average worker saw their pay growth spike to about 6% annually. "This is good news for consumers," since it generally equates to an increase in their well-being over time, he added.
Persons: It's, Chris Tilly, Maximiliano Dvorkin, Louis, Dvorkin Organizations: Getty, U.S . Bureau of Labor Statistics, Finance, University of California, Federal Reserve Bank of St, BLS Locations: U.S, Los Angeles
Interest rate cuts and continued earnings growth will power the Dow Jones to above 100,000 within the next decade. AdvertisementA powerful cocktail of earnings growth and interest rate cuts will serve as a "turbo booster" for stock prices and power the Dow Jones Industrial Average to over 100,000. And if the Fed doesn't cut interest rates this year, that won't derail Demmert's bullish forecast because earnings growth remains strong and resilient. "Yes, the AI tech stocks trade at much higher multiples than most stocks - but deservedly so given their premium growth rates," Demmert said. For the Dow Jones to hit 100,000, it would need to grow at a compounded annual growth rate of 11.2% over the next nine years.
Persons: Dow Jones, James Demmert, Demmert, Organizations: Research, Service, Dow Jones, Street Research, Federal
CNN —By now, the famed photographer Gregory Crewdson’s well-oiled, large-scale shoots are well documented. Gregory CrewdsonCrewdson nods to the Hitchcock classic “Vertigo” and the female lead’s doubled self in this photograph from his most recent series, “Eveningside,” from 2021-22. For the series, the photographer returned to Adams, Massachusetts, and transformed vacant storefronts, revisiting locations from earlier series. With Crewdson’s work, he added: “It’s completely staged, and every detail is thought through. It’s that moment — not the final picture — that he’s always chasing, he reiterated on the call.
Persons: Gregory Crewdson’s, Crewdson, ” Crewdson, , Gregory Crewdson Crewdson, Hitchcock, , Gregory Crewdson, Walter Moser, David Lynch, Steven Spielberg, Alfred Hitchcock, ” Moser, Jeff Wall, Cindy Sherman, Philip, Lorca diCorcia —, It’s, it’s, he’s, Juliane Hiam, , Moser, Sherman, Edward Hopper, William Eggleston, ” Gregory Crewdson, HBO’s, Julianne Moore, Tilda Swinton, Phillip Seymour Hoffman, Gwyneth Paltrow, Taylor, Haze ”, “ it’s, ’ ”, hasn’t, Rick Sands, Wes Anderson, ” Gregory Crewdson “, I’ve Organizations: CNN, Albertina, , Pines, , New York Times Magazine, Yale Locations: Connecticut, Western Massachusetts, , Adams , Massachusetts, Vienna, Brooklyn ; New Haven , Connecticut, Pittsfield , Massachusetts, Crewdson’s, Vermont, America, Massachusetts, New York, New Haven, Pittsfield, Italy, Rome
The resurgence in meme-stocks is a bad sign for the broader stock market. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe resurgence in meme stocks is a bad sign for the stock market, according to JPMorgan chief global markets strategist Marko Kolanovic. A peak in speculative trading activity could spell trouble for the broader stock market down the road. Though one barometer of speculative trading, FINRA margin debt, has yet to eclipse its February 2021 peak of $935 billion.
Persons: Marko Kolanovic, Kolanovic, Organizations: JPMorgan, Service, Chicago PMI, GameStop, AMC Entertainment Locations: Chicago
On the day of the eclipse back in April, walking through Boston Commons on a fine spring afternoon as every expectant face turned upward, I thought again of Annie Dillard’s wondrously dislocating essay “Total Eclipse,” which I have reread more times than I can count. “My hands were silver,” she wrote. “All the distant hills’ grasses were finespun metal that the wind laid down.”Then I read “This Is How a Robin Drinks: Essays on Urban Nature,” the forthcoming book by the Nashville naturalist Joanna Brichetto, which begins with an epigraph from “Pilgrim at Tinker Creek,” the book that won Ms. Dillard a Pulitzer Prize when she was 29 years old: “Some unwonted, taught pride diverts us from our original intent, which is to explore the neighborhood, view the landscape, to discover at least where it is that we have been so startlingly set down, if we can’t learn why.”And then, as if I were a dullard the universe can’t trust to take a hint, the writer Jennifer Justice mentioned in her wonderful Substack newsletter that 2024 is the 50th anniversary of the publication of “Pilgrim at Tinker Creek,” a book that changed me when I was 18 as thoroughly as the eclipse changed Annie Dillard. On the same day, if you can believe it, the novelist Barbara Kingsolver singled out “Tinker Creek” in an Earth Day recollection for The Washington Post: “Her writing helped me see nature not as a collection of things to know or possess, but a world of conjoined lives, holy and complete, with or without me.”
Persons: Annie Dillard’s wondrously, , Joanna Brichetto, “ Pilgrim, Dillard, Jennifer Justice, Annie Dillard, Barbara Kingsolver, Organizations: Washington Post Locations: Boston, Nashville, Tinker
CNN —As we near the end of Asian American, Native Hawaiian and Pacific Islander (AANHPI) Heritage Month, I can’t help but feel a bit disappointed. Regina Kim Courtesy Regina KimBut too often, efforts to honor the contributions of Asian Americans, however well-intentioned, fall short because people fail to differentiate between Asian Americans and Asian communities outside the US. A recent study by the Asian American Foundation found that over half of Americans can’t name a single famous Asian American. This may be one reason why so many Americans can’t name any Asian Americans of note. The media needs to make a conscientious effort to seek out, identify and spotlight Asian Americans — and not just during AANHPI Heritage Month.
Persons: Regina Kim, Peggy Gou —, AAPI, , Mark Tuan, Audrey Nuna Michael Hickey, Laufey, who’ve, Daniel Anderson, Peggy Gou, Ali Wong Elyse Jankowski, Kat Turner, Sun, ” Turner, Steven Yeun Gregg DeGuire, wasn’t, Jackie Chan, Michelle Yeoh, Lulu Wang Michael Kovac, Mindy Kaling, Kevin Mazur, Lee Jung, jae, ” Oscar, Bong Joon Ho, Lulu Wang, , , Steven Yeun, Bruno Mars, Olivia Rodrigo, Sarah Kinsley, Lyn Lapid, Audrey Nuna Organizations: Forbes, CNN, Billboard, AAPI, American, AANHPI, America, South, Korean, Asian American Foundation, Globe, Twitter, Facebook Locations: Hawaiian, American, , Korean, Europe, America, Asia, Icelandic, South Korean, Hong Kong, Malaysian, keshi
Global retail media ad spending is expected to more than double from $114.18 billion in 2023 to $233.89 billion in 2027, according to eMarketer. Retail media is expected to represent a larger percentage of digital advertising spending, which has begun to eclipse traditional media spending, growing from 18.9% of that segment in 2023 to 25.7% in 2027, according to eMarketer. "What we hear from brands most directly is they no longer wake up with a recipe to buy X amount of TV, X amount of social, X amount of digital. GSTV screens reach 115 million viewers per month across 49 states. "It's the new TV for mass reach advertising," said Mark Boidman, head of media and entertainment investment banking at Solomon Partners.
Persons: Sean McCaffrey, McCaffrey, Mark Boidman Organizations: Television, Facebook, Walmart, Kroger, WPP, Global, Brands, Solomon Partners Locations: eMarketer, It's
The first thing to know about The Portal is that you will feel a strange, overwhelming urge to take out your phone and gaze at it through your phone's screen. Isn't it more interesting to try to interact with those people instead of staring at them through your phone? It feels almost protective — like The Portal is a light so bright you have to view it only through a phone screen, like looking at a solar eclipse through a hole in a cereal box. The Dublin Portal had a bigger crowd than the one in NYC. The Portal in New York is right on 23rd and Broadway, near some seating and a coffee stand.
Persons: Katie Notopoulos Organizations: Service, Business, New, Dublin, Broadway, Yorkers, Dubliners Locations: New York City, Dublin, Flatiron, Manhattan, New York,
Hong Kong CNN —Apple is offering unprecedented price cuts in China as big brands and retailers launch promotions for the annual “618” shopping festival in the face of sluggish consumer demand. The JD.com Inc. headquarters during a ceremony marking company's 20th anniversary and 618 shopping event in Beijing, China, on Sunday, June 18, 2023. The 618 shopping festival, a key barometer of consumption in the country, has seen growing competition by e-commerce sites and retailing brands to offer discounts. One statement, issued by 10 publishing houses in Beijing, said the boycott was a necessary move to “maintain the stability and prosperity” of the book publishing market. Even major state-owned publishing companies voiced opposition to “chaotic” price wars.
Persons: Apple, Alibaba —, Alibaba, Rihanna, iPads, , Jefferies Organizations: Hong Kong CNN, Apple, Huawei, Vivo, JD.com, Inc, Bloomberg, Getty, Counterpoint Research, Xiaomi, Shanghai Century Publishing Locations: Hong Kong, China, Shanghai, Beijing
Opinion | Kristi Got Her Gun
  + stars: | 2024-05-16 | by ( Carlos Lozada | ) www.nytimes.com   time to read: +1 min
Kristi Noem did herself no favors with “No Going Back,” her new book featuring a fake story about a dictator and a true story about a dog. I’m truly grateful to Noem for writing — or at least publishing — this book. But the book by the South Dakota governor and presumably erstwhile contender to be Donald Trump’s running mate is worth reading in full for two additional reasons. Only Trump can decide whether Noem’s slaying of a dog named Cricket also killed off the governor’s vice-presidential hopes. Reading the rest of it makes clear not only why Noem killed the dog, but why she chose to share the story — and why she belongs nowhere near the vice presidency.
Persons: Kristi Noem, I’m, Noem, Politico’s Michael Schaffer, Donald Trump’s, Trump Organizations: South, Cricket Locations: South Dakota
Carlos Avila Gonzalez/San Francisco Chronicle/Getty Images The northern lights shine in the night sky above the Molenviergang in Aarlanderveen, the Netherlands, early May 11. Alexey Malgavko/Reuters The northern lights are seen in a rural area west of Fort Lauderdale, Florida, on Friday, May 10. Courtesy Luke Culver People photograph the northern lights from Whitley Bay, England, on May 10. Courtesy Jan Reed The northern lights glow in the night sky in Brandenburg, Germany, on May 10. Increased solar activity causes auroras that dance around Earth’s poles, known as the northern lights, or aurora borealis, and southern lights, or aurora australis.
Persons: Chad Myers, it’ll, Alastair Johnstone, Andrew Chin, Sanka Vidanagama, Carlos Avila Gonzalez, Josh Walet, Robert Nemeti, Jean, Christophe Bott, Max Slovencik, Alexey Malgavko, Luke Culver, Ian Forsyth, Robert F, Geoff Robins, Rich, Jan Reed, Patrick Pleul, Jenny Kane, Adam Vaughan, Jacob Anderson, Peter Byrne, Biden, it’s, Dr, Hakeem Oluseyi, Bill Nye, Guy, , Organizations: CNN, National Oceanic, Prediction, Midwest, Getty, San Francisco Chronicle, Keystone, AFP, Luke Culver People, Rockies, National Weather Service Locations: Alabama, Ohio, Pacific Northwest, North America, Gulf, , Sheffield, England, Manning, British Columbia, Christchurch , New Zealand, AFP, Berryessa , California, Aarlanderveen, Netherlands, Debrad, Slovakia, Anadolu, Le, Dessous, Switzerland, Vienna, Siberian, Tara, Russia's Omsk, Fort Lauderdale , Florida, Whitley Bay, Brunswick , Maine, London , Ontario, Ontario, Tennessee, Washington, Memphis , Tennessee, Rich Hill , Missouri, Brandenburg, Germany, Estacada , Oregon, Cumming , Georgia, Crosby , England, Edinburgh, Scotland, Crosby Beach, Liverpool, Texas, Coast, Sweden, South Africa, United States
Airbnb reported first-quarter results on Wednesday that beat analysts' estimates but offered weaker-than-expected guidance. Here's how the company did, compared with consensus expectations from LSEG:Earnings per share: 41 cents vs. 24 cents expected41 cents vs. 24 cents expected Revenue: $2.14 billion vs. $2.06 billion expectedRevenue increased 18% from $1.82 billion a year earlier. Gross booking value, which Airbnb uses to track host earnings, service fees, cleaning fees and taxes, came in at $22.9 billion in the first quarter. Airbnb app downloads in the U.S. in the first quarter increased 60% year over year. Airbnb said it ended the quarter with its "highest number of active listings yet," and they increased 15% from a year earlier.
Persons: Airbnb, StreetAccount, Gross Organizations: Asia Locations: Los Angeles , California, North America, America, U.S
Uses Electricity They’re delivering solar power after dark in California and helping to stabilize grids in other states. Peak demand average daily generation, by fuel type Peak demand 25k 25k megawatts megawatts Imports 20k 20k 15k 15k Gas Solar power Batteries Solar power 10k 10k Wind 5k 5k Hydro Nuclear 0 0 12a.m. Peak demand average daily generation, by fuel type Peak demand 25k 25k megawatts megawatts Imports 20k 20k 15k 15k Gas Solar power Batteries Solar power 10k 10k Wind 5k 5k Hydro Nuclear 0 0 12a.m. Ga. Ga. Texas Texas La. By The New York TimesMost grid batteries use lithium-ion technology, similar to batteries in smartphones or electric cars.
Persons: , , Helen Kou, Conn ., Mo ., R.I, Conn . Conn ., . Kan ., , Andrés Gluski, Mike Blake, John Phipps, Phipps, Stephanie Smith, Aaron Mitchell, Natalie McIntire, Tamir Kalifa, Emma Konet, Max Kanter, BloombergNEF, you’ve, Meredith Fowlie, Nate Blair, “ We’re, Ross D Organizations: Hydro Nuclear, Hydro, The New York Times, , United States U.S, Conn . Pa . Iowa Neb, N.J . Ohio Nev, Del . Utah Ill, Texas, Fla ., Vt, Wis ., Wis . Idaho Idaho S.D, Pa . Iowa Iowa Neb, Neb . N.J . N.J . Ohio Ohio Nev, Del . Utah Utah Ill, . Energy, AES Corporation, Reuters, California, Georgia Power, Natural Resources Defense Council, Nationwide, The New York Times Grid, University of California, National Renewable Energy Laboratory, Franklin, Associated Locations: California, The New York Times California, China, Texas , California, Arizona, Wash . Maine, Minn, Ore, N.H, N.Y, Mass, Wis . Idaho S.D, Mich, Wyo, R.I, Conn, Conn . Pa . Iowa, N.J . Ohio, Del . Utah, Calif, Md, Colo, W.Va . Va, Mo, Mo . Kan, Ky, N.C, Tenn, Ariz, ., S.C . California, Ala, Miss ., Fla, Alaska Texas, Hawaii, Wash . Maine Maine Mont, Mont, Vt, Wis, Wis . Idaho Idaho, S.D . Mich, Conn . Conn, Conn . Conn . Pa, Pa . Iowa, Neb . N.J . N.J . Ohio, Nev . Ind, Ind, Del, W.Va, W.Va . Va . Va, . Kan . Kan, S.C . Ala . Ala . Miss, . Texas Texas, La, Fla . Alaska Alaska Hawaii Hawaii California, Texas, Menifee, . California, ” In Texas, Fort Worth, West Texas, Georgia, Sweetwater , Texas, Tierra, Berkeley, Sacramento
The US government is shelling out $2 million per minute in interest payments on its debt. The surge in interest rate expenses has coincided with higher for longer interest rates. The US government is on track to pay more than $1 trillion in interest expenses this year. And that in turn means higher interest rates have actually helped fueled inflation rather than tame it. And you're not going to see meaningful downward pressure on shelter costs, until the Fed lowers interest rates," Manley said.
Persons: , Louis Fed, Jack Manley, Manley Organizations: Service, US Treasury, Bloomberg, Federal Reserve, Fed, Treasury
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