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☆ Ray Dalio calls upcoming U.S. election the most consequential of his lifetime
▼ + stars: | 2024-09-19 | by ( Christine Wang | In Christinejwang | ) www.cnbc.com time to read: +1 min

Ray Dalio said the 2024 U.S. elections will likely be the most important of his lifetime and he thinks the country needs a "strong leader of the middle." "As far as the election goes, it's going to be the most consequential election of my lifetime because we now have irreconcilable differences between the two sides," he said. "The first question we'll ask is: will we have an orderly transition of power? We have the question- the fact that it is possible — that election results may not be accepted — that's quite something." On Wednesday, Dalio had named the elections as a major force shaping the global economy, calling it an "issue of internal order and disorder."

Persons: Ray Dalio, Dalio Organizations: Bridgewater Associates, CNBC Locations: U.S

7:03 a.m.: Bernstein cuts price target on Nike amid innovation critiques Bernstein sees slightly less room for Nike to rebound. — Alex Harring 6:25 a.m.: Jefferies recommends buying NextEra Energy Partners despite buyout concern Jefferies came out of the gates optimistic on NextEra Energy Partners . Analyst Julien Dumoulin-Smith initiated coverage of the Florida-based renewable energy stock at a buy rating. — Alex Harring 5:54 a.m.: AI helps HubSpot compete, BofA says Bank of America is keeping an eye of HubSpot's artificial intelligence work. — Alex Harring 5:46 a.m.: JPMorgan says to sell Five Below JPMorgan turned bearish on Five Below , citing challenges that are hard to surmount for the value-focused retailer during a tough year.

Persons: Piper Sandler, Bernstein, Aneesha Sherman, Sherman, Alex Harring, BTIG, it's, Jake Fuller, Fuller, DoorDash, — Alex Harring, Jefferies, Julien Dumoulin, Smith, Hertz, Dan Levy, Levy, Avis, HubSpot, BofA, BofA's Brad Sills, Sills, monetization, Matthew Boss, Boss, Abbott, Adam Maeder, necrotizing, ABT, Maeder, Fred Imbert Organizations: CNBC, Laboratories, JPMorgan, Nike, Dow Jones, Jefferies, NextEra Energy Partners, Barclays, Hertz, Bank of America, LSEG, Abbott Laboratories Locations: Wednesday's, Florida, Thursday's premarket

☆ The Barbie playbook: How Mattel's CEO is transforming the toy maker into an entertainment company
▼ + stars: | 2024-09-19 | by ( Lucia Moses | ) www.businessinsider.com time to read: +6 min

Read previewMattel CEO Ynon Kreiz is trying to transform the toy maker into an entertainment company — but don't look for it to be a funder or distributor in its own right. After 2023's smash success of Greta Gerwig's "Barbie," Kreiz has become one of the most intriguing figures in Hollywood. Kreiz spoke with Business Insider on Wednesday about lessons from Barbie and how he's turning Mattel into an IP company. At a time of massive disruption in entertainment, Kreiz thinks Mattel is well-positioned. But "Barbie" established a blueprint for Mattel's future projects in working with top creatives, providing promotion power, and staying true to its brands, Kreiz said.

Persons: —, Ynon Kreiz, Greta Gerwig's, Barbie, Kreiz, John Cena, . Abrams, Kara Swisher, Mattel, Mattel Mattel, What's, We're, it's Organizations: Service, Mattel, Business, Advance, YouTube, Maker Studios, Disney, Endemol Group, Warner Bros, Procter, Gamble, Adobe Locations: Hollywood, ., New York, billings

"Ultimately shirking fiduciary responsibility to employees, consumers, and shareholders." Twenty civil rights organizations sent a letter Thursday to Fortune 1000 companies calling for them to recommit to diversity, equity and inclusion, after several major companies scaled back their efforts. She emphasized that LGBTQ+ consumers have $1.4 trillion of buying power, as reported by the National LGBT Chamber of Commerce. But a small, well-funded, and extreme group of right-wing activists is attempting to pressure companies into abandoning their DEI programs. Abandoning DEI will have long-term consequences on business success -- ultimately shirking fiduciary responsibility to employees, consumers, and shareholders.

Persons: Bill Ackman, Molson Coors, Harley Davidson, George Floyd, Forman, Kelley Robinson, CNBC's, Robinson, Brown, Lowe's, John Deere, Harley, Davidson, Edelman Organizations: National Action Network, Molson, Ford, Tractor Supply, Human Rights, HRC, Brown, National LGBT Chamber of Commerce, Molson Coors, . Tractor Supply, Companies, McKinsey & Company, Pew Locations: New York City, Rural, United States

☆ Rate cuts are a double edged sword for Kamala Harris
▼ + stars: | 2024-09-19 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +6 min

As former President Donald Trump insists that the rate cut was fueled by partisan politics, Harris has to thread the needle with her rhetoric, experts told Business Insider. Celebrate the rate cut and she risks fueling Trump's narrative; ignore the rate cut and she doesn't get to claim a desperately needed economic victory. "This is a double edged one for Harris," Mark Blyth, a political economist at Brown University, said. Advertisement"On the other hand, Vice President Harris is running to be president of the same economy that the Federal Reserve is managing," Tedeschi told Business Insider. But Blyth remains skeptical that the rate cut will have a lasting impact in an election that's been defined by volatility.

Persons: Kamala Harris, Donald Trump, Harris, doesn't, Mark Blyth, Joe Biden's, Ernie Tedeschi, Mike Johnson, Tedeschi, Powell, Trump, Blyth, people's, they've, Danny Hayes, Thursday Harris, Dow Organizations: Service, Federal Reserve, Brown University, Yale Budget, Republicans, Wall Street Journal, Trump, Blyth, George Washington University, Business

☆ The Stretch Limo, Once a Luxury Transportation Option, Is Dead
▼ + stars: | 2024-09-19 | by ( Emily Stewart | ) www.businessinsider.com time to read: +12 min

It used to be that you saw a stretch limousine and excitedly wondered who was inside — maybe a corporate executive or a celebrity or some other classy, mysterious type. The limo industry isn't dead; it's just leaving the classic black stretch version of itself behind. Trade shows and expos for limousines and luxury transportation no longer have many, if any, actual classic stretch limos on their floors. He said they keep a stretch limo around for nostalgia's sake more than anything. A CEO gallivanting around in his or her fancy stretch limousine is gross.

Persons: They've, Joe Reinhardt, He's, they're, Brett Barenholtz, Michael Douglas, Richard Gere, Mercedes, van, Scott Michael, Robert Alexander, Alexander, promgoers, Barenholtz, It's, Reinhardt, Chris Weiss, hasn't, crouch, Weiss, " Weiss, Emily Stewart Organizations: We're, Carolina Limousine, CLC Worldwide, National Limousine Association, Consumers, Benz Sprinter, United Motorcoach Association, RMA, Trade, expos, Cadillac, Lincoln, Facebook, Mercedes, ABC, NLA, Business Locations: Myrtle Beach, South Carolina, Maine, Boston, —, Washington , DC, California, New York, limos, Franken, It's

☆ One number shows why the economy might not get the immediate relief many hope for
▼ + stars: | 2024-09-19 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

That rate is the 10-year US Treasury yield, a key lending benchmark for everything from mortgages to corporate debt. "The reaction within Treasury markets was most telling yesterday," Reinking said. AdvertisementHowever, it also means the 10-year Treasury is moving higher since the decision. The 10-year Treasury yield is a lending benchmark for everything from home loans to corporate debt. "That's positive for the economy, and in that case yields should be higher.

Persons: —, Michael Reinking, Reinking, Freddie Mac, Inki Cho, Sonu Varghese, Carson, Jerome Powell's, Varghese Organizations: Service, Federal, Treasury, Business, New York Stock Exchange, Fed

☆ What buying Commerzbank would mean for UniCredit — and the banking sector
▼ + stars: | 2024-09-19 | by ( April Roach | ) www.cnbc.com time to read: +7 min

Last week, UniCredit announced it had taken a 9% stake in Commerzbank, confirming that half of this shareholding was acquired from the government. Commerzbank shares jumped 20% on the day UniCredit's stake was announced. A cross-border styled merger between UniCredit and Commerzbank would be more preferential than a domestic merger between Deutsche Bank and Commerzbank, according to Reint Gropp, president of the Hall Institute for Economic Research. "The German banking structure is long overdue for a consolidation process. The German bank also has less excess capital than UniCredit and therefore "cannot really afford" a takeover, Alloatti said.

Persons: Kirill Kudryavtsev, UniCredit, Andrea Orcel, Commerzbank, Orcel, Ignacio Cerezo, Berenberg, David Benamou, Benamou, CNBC's, Arnaud Journois, Journois, Emmanuel Macron, Reint Gropp, Gropp, Filippo Alloatti, Hermes, Alloatti, We've Organizations: Afp, Getty, Bloomberg, Reuters, UniCredit, Wednesday, UBS, Investments, European, Morningstar, Commerzbank, Analysts, CNBC, Deutsche Bank, Hall Institute for Economic Research, Will Deutsche Bank, ABN Amro Locations: Frankfurt, Germany, Commerzbank, Berlin, Italian, U.S, Europe, UniCredit, Italy

☆ DryMerge aims to link your apps in one place. Here's the 8-page pitch deck its Gen Z founders used to raise $2.2 million.
▼ + stars: | 2024-09-19 | by ( Shriya Bhattacharya | ) www.businessinsider.com time to read: +4 min

Edward Frazer and Sam Brashears have built software together since fourth grade, and that's exactly what they'll start with if you're a venture capitalist listening to their pitch for funding. The two 22-year-old cofounders and longtime friends started developing the API integration software known as DryMerge last year. "Sam and I have spent more time with each other than anyone else except probably our families, so we're just really, really good friends." When evaluating team risk, VCs also look for whether the co-founders can build the product the way they envision it. Here's the eight-page pitch deck that Frazer and Brashears used to secure their $2.2 million seed round for DryMerge.

Persons: Edward Frazer, Sam Brashears, Frazer, Slack, DryMerge, Sam, Brashears, VCs, they've Organizations: Service, Business, Garage Capital, Goodwater, Ritual, Yale University, University of Wisconsin Locations: Madison

"You support Hamas, do you not?" "Let me ask one more time, you support Hamas, don't you?" "I think it's exceptionally disappointing you're looking at an Arab American witness before you and saying you support Hamas. You can't bring yourself to say don't support UNWRA, you don't support Hamas, you don't support Hezbollah and you don't support Iran. "The introduction of foreign policy is not how we keep Arab Americans or Jewish Americans or Muslim Americans or Black people or Asian Americans, anybody safe.

Persons: Sen, John Kennedy, Maya Berry, Kennedy, gasps, Berry, Dick Durbin, Durbin Organizations: Arab American Institute, Democratic, Hamas, United, Jewish, Muslim Locations: America, Israel, Iran, United Nations

☆ Gen Z's love of discount stores could send these 3 retail stocks soaring as much as 18%, Bank of America says
▼ + stars: | 2024-09-18 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Millennials and Gen Z are increasingly shopping at discount stores like TJ Maxx, Burlington, and Ross. AdvertisementGen Z wants more bang for their buck, and their love of a good deal could drive shares of some discount retailers up nearly 20%, Bank of America says. AdvertisementThe report from BofA on Wednesday attributes the rise in popularity among discount stores to inflation weariness. The analysts see Burlington and Ross Stores shares rising 16% and 18% from Wednesday highs, respectively. "Off-price has attracted the customer, helped by the quest for value amidst persistent multi-year inflation pressures," Bank of America's analysts wrote.

Persons: Millennials, TJ Maxx, Ross, —, Ross . Younger Organizations: Service, Bank of America, TJ Maxx, Goods, Burlington, Ross Stores, Bank of Locations: Burlington, Millennials, BofA

☆ YouTube's CEO on hefty creator payouts, election deniers, and the NBA: Q&A
▼ + stars: | 2024-09-18 | by ( Peter Kafka | ) www.businessinsider.com time to read: +11 min

Why do you think that's the case? Have you thought about how you're going to handle people saying that the election was fraudulent? Related storiesIt's not what gets talked a lot about, but that's actually what users experience. But there's going to be people who go, "What happened to so-and-so conspiracy theorist? I'd heard, and I think there's been some reporting out that you guys made an offer for that package.

Persons: We've, Neal Mohan, Mohan, —, Snapchat, they're, we've, They're, it's, Donald Trump, that's, Rudy Giuliani, what's, I've, I'd, there's Organizations: Service, YouTube, Google, CNN, New York Times, Fox News, ABC, Elon Musk, Twitter, NBA, Warriors Locations: India

☆ 3 reasons why today's Fed rate cut is the beginning of a more aggressive cutting spree than investors expect: chief economist
▼ + stars: | 2024-09-18 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

Read previewThe Federal Reserve is expected to slash interest rates today for the first time since 2020 as the labor market and inflation continue to cool. AdvertisementAssuming a 25-basis-point cut at every FOMC meeting until next July, that would leave an extra 75 basis points the central bank would have to work into its policy adjustments over that time. One is that the consumer could be weaker than they appear, and the labor market is likely to deteriorate further. AdvertisementWhile the Fed hopes to stimulate spending with rate cuts, Tombs is skeptical that they'll the impact the central bank wants. Advertisement"New mortgage rates need to drop by about 250bp before they will undershoot the average outstanding mortgage rate," Tombs wrote.

Persons: —, Jerome Powell's, Samuel Tombs, Tombs Organizations: Service, Business, Macroeconomics Locations: Jackson Hole , Wyoming

☆ I added my divorce to my LinkedIn profile — here's why
▼ + stars: | 2024-09-18 | by ( Karl Dunn | ) www.businessinsider.com time to read: +6 min

My divorce was the worst job I've ever had. So, like any job I've had, I decided to put my divorce on my LinkedIn résumé. I added my divorce to my LinkedIn 2 weeks agoDivorce hits different people differently. When I had the idea to put my divorce on my LinkedIn, I debated it for weeks. AdvertisementSo while divorce was the worst job I ever had, it was also one of my greatest teachers, which is why I put it on my CV.

Persons: —, I've, That's, couldn't, doesn't, who's, I'd, Karl Dunn Organizations: Service, Business, Hearst Publications, LinkedIn Locations: America, California, Berlin, Los Angeles

☆ Hedge fund titan Steve Cohen is no longer trading stocks. Here's why it's an important milestone for the $4 trillion industry.
▼ + stars: | 2024-09-18 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +5 min

The news from Bloomberg that billionaire Point72 founder and legendary stockpicker Steve Cohen will no longer trade his book for the $35 billion fund Tuesday is paradoxically both shocking and expected. Of the big multi-strategy managers, the fact Cohen was still managing a book set him apart from his main competitors. Will there be another Steve Cohen? Cohen launched SAC with $20 million in 1992; new funds today need exponentially more to justify leaving seats at funds like Point72. Fictional hedge fund manager Bobby Axelrod, played by Damian Lewis, was loosely based on Steve Cohen.

Persons: —, Steve Cohen, Cohen, they've, — Cohen, He's, Point72, Ken Griffin, Izzy Englander, Dmitry Balyasny, Steve, he's, it's, Bobby Axelrod, Damian Lewis, Vincent D'Onofrio, Guy Fieri Organizations: Service, SAC Capital, Bloomberg, Business, SAC, MLB, New York Mets, Citadel, Academy, Tiger Cubs, Viking, Wall Street, Showtime, GameStop, Food Locations: Connecticut

☆ I tried Nestlé's new weight-loss meals, and felt full for hours — but nutritionists have mixed reviews
▼ + stars: | 2024-09-18 | by ( Hilary Brueck | ) www.businessinsider.com time to read: +9 min

This story is available exclusively to Business Insider subscribers. Vital PursuitThe meals cost less than $5 and are available at retailers including Target and Walmart, starting Wednesday, according to the company. These small meals, branded as protein-rich, are designed to help GLP-1 users lose more fat, and less muscle. "We want to be a brand for those 82% of Americans who are managing their weight," Stoehr told Business Insider, referencing a Morgan Stanley report. "These meals seem like a decent option... but not a great one," Malloy wrote in an email to Business Insider.

Persons: —, Nestlé, Kristen Stoehr, Stoehr, Morgan Stanley, We're, Alix Turoff, Mike Molloy, Hilary Brueck, I've, I'd, Turoff, Malloy, It's, that's, I'm, Nestlé's, Marlene Schmidt, Morgan Stanley's Organizations: Service, Business, Target, Walmart Locations: Nestlé, New York

☆ Sean 'Diddy' Combs shouldn't expect special treatment at a notorious Brooklyn jail that's like 'hell on earth'
▼ + stars: | 2024-09-18 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +5 min

A former warden at the facility told Business Insider that Combs can expect to be treated like any of the other 1,200 inmates at the Brooklyn jail. Advertisement"Any time one is being detained at the Metropolitan Detention Center, it's never going to be a picnic," Cameron Lindsay, the retired warden, told BI. Sean "Diddy" Combs is currently being housed at an infamous Brooklyn jail. "Given his status as a celebrity and a rap star, I would believe, of course, that he would be single-celled and isolated under very austere conditions," Cameron Lindsay told BI. Numerous Courts in this district have raised concerns with the horrific conditions of detention there," Combs' lawyers wrote.

Persons: —, Sean, Diddy, Combs, Kelly, Sam Bankman, Ghislaine Maxwell —, it's, Cameron Lindsay, Mark Bederow, Lucas Jackson, Bederow, Robyn Tarnofsky, Lindsay Organizations: Service, Federal Bureau of Prisons, Metropolitan Detention, Business, MDC Locations: Los Angeles, Miami, Brooklyn, Manhattan, Beverly Hills

☆ Ukraine isn't flying the most dangerous missions with its F-16s because the pilots are still new to the fighter, US general says
▼ + stars: | 2024-09-18 | by ( Jake Epstein | ) www.businessinsider.com time to read: +3 min

Read previewA top US Air Force general said that Ukraine is not using its F-16s for the most dangerous missions because the pilots flying them are still new to the fighter jet. Given the vulnerabilities of more offensive missions, it was thought that Kyiv would use the fighter jets in an air-defense role. Before Ukraine received its long-sought-after F-16s from NATO, one of the big questions surrounding the much-hyped transfer of the fighter aircraft was how Kyiv would actually go on to use them in combat. AdvertisementThe Ukrainian F-16s flew their first combat mission in late August as they helped defend the country against a massive Russian aerial bombardment. It's still unclear what caused the crash, but Ukraine dismissed the commander of its air force and said it would investigate the incident.

Persons: —, James Hecker, haven't, they're, " Hecker, that's, Ogirenko, Oleksandr Syrskyi, It's Organizations: Service, US Air Force, Business, US Air Forces, NATO Allied Air Command, Tuesday's Air & Space Forces Association's Air, Air & Space Forces Magazine, Ukraine, NATO, REUTERS, Former US Locations: Ukraine, Russian, Europe, Ukrainian, Kyiv

☆ Thursday's big stock stories: What's likely to move the market in the next trading session
▼ + stars: | 2024-09-18 | by ( Jason Gewirtz | ) www.cnbc.com time to read: 1 min

Traders work on the floor of the New York Stock Exchange on September 18, 2024 in New York City. Stocks @ Night is a daily newsletter delivered after hours, giving you a first look at tomorrow and last look at today. Sign up for free to receive it directly in your inbox. Here's what CNBC TV's producers were watching as the Federal Reserve slashed rates by a half point on Wednesday and what's on the radar for the next session.

Persons: what's Organizations: New York Stock Exchange, CNBC, Federal Reserve Locations: New York City

☆ I have digital overload from parenting a first grader. School, friend hangouts, and extracurriculars are all managed on my phone.
▼ + stars: | 2024-09-18 | by ( Barkha Shah | ) www.businessinsider.com time to read: +3 min

It's taken me some time to realize but I have been checking my phone every 30 minutes. I look before she's even out of the houseBefore our daughter sets off for school, my husband and I check the phone every few minutes. I keep checking the phone to decide when I should start walking toward our gate to pick her up. As the day's activities take over, the phone buzzes in between to let us know of any updates from the school. For now, I'll keep checking my phone ever 30 minutes to make sure my kid is not left out of any activity, party, or school assignment.

Persons: It's, I'm Organizations: Service, Ballet

☆ Nvidia vs. Alphabet: Fund manager reveals which to hold, and which to sell
▼ + stars: | 2024-09-18 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +4 min

Google-parent Alphabet has long been an investor favorite among tech stocks, but one portfolio manager says he's now steering clear. Shares in Alphabet are up around 13% year-to-date and trade around 20.6 times forward earnings, according to FactSet data. 'Core investments' Beyond Alphabet, Cvetanovski remains bullish on other tech stocks, naming Nvidia , Vertiv , ASML , Taiwan Semiconductor Manufacturing Co and Schneider Electric as his "core investments." Nvidia is trading at over 41 times forward earnings, according to FactSet data. Analysts' average price target is $149.49, giving it 28% potential upside, FactSet data shows.

Persons: he's, We've, SearchGPT, Jordan, OpenAI, Cvetanovski, we've, — CNBC's Jennifer Elias Organizations: Google, Microsoft, Pella Funds, Apple, Nvidia, Taiwan Semiconductor Manufacturing Co, Schneider Electric Locations: Sydney, Pella, Cvetanovski, ASML

☆ Mark Zuckerberg's daughter August said she wanted to be like Taylor Swift one day, but he shot that down real quick
▼ + stars: | 2024-09-18 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Mark Zuckerberg's daughter told him that she wanted to be like Taylor Swift when she grew up. That's not available to you,'" Zuckerberg said he told his daughter. Go to newsletter preferences Thanks for signing up! AdvertisementMeta CEO Mark Zuckerberg says his seven-year-old daughter once told him that she wanted to be like Taylor Swift when she grew up. Zuckerberg brought up a conversation he had with his daughter, August, during a live interview on the "Acquired" podcast.

Persons: Mark Zuckerberg's, Taylor Swift, Zuckerberg, Swift, —, Mark Zuckerberg, Priscilla Chan Organizations: Service, Business

☆ Vilnius is cheap, safe, and fun — no wonder it's the world's happiness capital for Gen Z
▼ + stars: | 2024-09-18 | by ( Joshua Nelken-Zitser | ) www.businessinsider.com time to read: +8 min

Joshua Nelken-Zitser/Business InsiderThe city's 90-or-so lakes, ideal for kayaking, and some of the largest forests in the country are also nearby. Joshua Nelken-Zitser/Business InsiderAccording to an affordability index by the personal finance website Finasvalp, Vilnius is the fourth most affordable capital in Europe. Joshua Nelken-Zitser/Business InsiderShe also said she appreciates how inexpensive and convenient it is to travel from Vilnius. Joshua Nelken-Zitser/Business InsiderOutside a food hall beside the Baltasis Tiltas, or White Bridge, 22-year-old Goda Ponomariovaitė looks for a place to sit. Joshua Nelken-Zitser/Business InsiderAccording to Ponomariovaitė, Vilnius has plenty of free or affordable hangout spots.

Persons: —, Valdas Benkuskas, Angel Villalba, Ignas, Kazlauskas, Ignas Kazlauskas, Joshua Nelken, Pranculis, Elizabeth Avgusta, Adriana Doroškevičiūtė, Avgusta, Doroškevičiūtė, It's, Ponomariovaitė Organizations: Service, Business, Getty, Gallup, US, Eurostat, Finasvalp, Michelin Locations: Lithuania, Vilnius, Baltic, Small, Lithuania's, Denver, London, Newcastle, Ukraine, Belarus, Berlin, Europe, Indonesia, LA's Venice, Ponomariovaitė, Amsterdam

☆ Beyoncé says she stopped overworking—and it made her more successful: 'Now I work smarter'
▼ + stars: | 2024-09-18 | by ( Ashton Jackson | ) www.cnbc.com time to read: +2 min

The 43-year-old singer, whose full name is Beyoncé Knowles-Carter, once put her career before anything else, she told GQ last week. These days, she's more intentional about work-life balance — and she's more successful because of it, she added. Back then, I had little boundaries, and said yes to everything ... And now I work smarter." Cécred's moisture sealing lotion won one of Elle UK's 2024 Future of Beauty Awards, and SirDavis won two platinum titles at last year's SIP Awards before becoming available to the public. So, when you don't see me on red carpets, and when I disappear until I have art to share, that's why."

Persons: Beyoncé Knowles, Carter, Beyoncé, Hennessy, Davis Hogue, Elle UK's, SirDavis, I'm, it's Organizations: GQ, Billboard

☆ The Fed is poised for its first rate cut in years, but it may be too soon to refinance your mortgage
▼ + stars: | 2024-09-18 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

The Federal Reserve is poised to make its first interest rate cut in years on Wednesday. While mortgage rates are partly influenced by the Fed's policy, they are also tied to Treasury yields and the economy. Home loan rates have already started to come down in recent weeks, slightly induced in part by favorable economic data and indications the Fed could cut rates. As of Thursday, Sept. 12, the average 30-year fixed rate mortgage in the U.S. was 6.20%, according to Freddie Mac data via the Fed. "It's almost impossible to figure out what mortgage rates are going to do from week to week or month to month," Ostrowski said.

Persons: Chen Zhao, Freddie Mac, Jeff Ostrowski, Ostrowski Organizations: Federal, CNBC, Treasury, Finance Locations: Redfin, U.S

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