Major layoffs at companies like Meta and Amazon may not have big effects on non-tech employees.
Emma Jarvis tells Newsweek how her mortgage will cost hundreds more each month in this original essay.
On Wednesday, the Federal Reserve hiked interest rates by 75 basis points, and its Open Market Committee indicated markets should expect further rate increases.
For the first time since 2007, cash purchases have outnumbered Federal Housing Administration-backed purchases.
Top CEOs have voiced concerns that the U.S. economy is heading towards a recession despite reports of strong consumer spending in the last few months.
Some cities are still seeing higher inflation rates than the national average, with Phoenix, Arizona, topping the list.
Mortgage interest rates have exceeded 7 percent, reaching highs last seen over 20 years ago and sparking new fears about mortgage affordability in the U.S.
The Federal Reserve is allegedly hoping that a boost in unemployment will have an immediate dampening effect on inflation.
Two-thirds of employees have reduced their savings contributions, with a third having reduced their 401(k) contributions, blaming financial instability.
San Jose homeowners became property millionaires as prices jumped an average of $266 per day, while Detroit saw its properties increase by 350 percent
"We anticipate that ongoing increases will be appropriate," Federal Reserve Chair Jerome Powell said Wednesday.
Powell said higher interest rates may bring "pain to households and businesses," but that "a failure to restore price stability would mean far greater pain."
The Federal Reserve raised the interest rate by another 0.75 percentage point to help curb inflation.
Existing-home sales peaked in January 2022 and sales have been dropping for five consecutive months.
A new CNN poll suggests only one in four Americans trust Joe Biden to tackle U.S. inflation.
HSBC Asset Management reported that the "economic regime appears to be shifting."
Economist Peter Schiff said the economic turmoil in the U.S. is worse than what is being described, saying it will hurt much more than the Great Recession.
Home prices in the U.S. rose by 1.6 percent in April compared to the previous month, according to the FHFA.
Federal Reserve Chairman Jerome Powell said a recession is possible and that more interest rate increases seem likely.
The Federal Reserve chairman spoke on the likelihood of a recession, whether interest rates will rise again and how unemployment factors in.
Even though the average rent in the U.S. is becoming higher, mortgage rates are increasing at a greater pace.
Raising interest rates will only "punish the American economy," the publishing executive said in an interview.
A contentious back-and-forth between Bill Keating and Brian Mast occurred during a hearing this morning.
The "nowcast" of GDP shows the U.S. hitting a second successive quarter of slowdown.
Existing home sales dropped by 2.4 percent in April, the lowest level in nearly two years, and the third straight monthly sales decline.
Concerns about inflation and wages come as the United States has entered its first bear market since 2020.
The largest interest rate hike in 28 years, three-quarters of a percentage point, was announced by the Federal Reserve as it tries to rein in surging prices.
Investor Sam Zell said President Joe Biden "owns this inflation" in a TV interview on Wednesday morning.
Past bear markets have been as short as a month and as long as nearly two years.