A version of this story first appeared in CNN Business’s Before the Bell newsletter. Not a subscriber? You can login exactly here. You can listen to an audio version of the newsletter by clicking the same link. CNN — Moody’s downgraded 10 US banks Monday night and put the credit ratings of six others under … Read more
CNN — Consumer resilience has helped keep the economy strong during the Federal Reserve’s rate-hiking cycle. But will this strength continue or will it fade away? It depends where you look. From Beyoncé’s “Renaissance” tour to the “Barbenheimer” trend to Taylor Swift’s “Eras” shows, US consumers have increased their spending power despite the slowdown in … Read more
A version of this story first appeared in CNN Business’s Before the Bell newsletter. Not a subscriber? You can login exactly here. You can listen to an audio version of the newsletter by clicking the same link. CNN — Stocks and consumer sentiment are rising in tandem after falling last year, another sign of growing … Read more
Washington, D.C CNN — Some Federal Reserve officials are already arguing for two consecutive rate hikes starting this month in a bid to curb inflation. But will their influence endure despite a reshuffle in the Fed’s interest rate committee? Probably. St. Louis Fed President James Bullard, the Fed’s toughest voice, announced on Thursday that he … Read more
Editor’s Note: A version of this story appeared in CNN Business’s Nightcap newsletter. To get it in your inbox, sign up for free here. new York CNN — If Fed Chair Jerome Powell were less tight-lipped, he would have every right to call a press conference, step up to the podium in a T-shirt and … Read more
new York CNN — When the Federal Reserve launched its rate hike campaign in March last year, the housing market reacted predictably – mortgage rates rose, which eventually caused house prices to fall. But after ten rate hikes, the real estate market – traditionally one of the most interest-rate sensitive parts of the economy – … Read more
London CNN — Financial difficulties at the company, which supplies water to more than a fifth of Britain’s population, have raised concerns about the dire state of an industry that provides a resource people cannot live without. The problems are most acute at Thames Water, the London water company, but the entire industry in England … Read more
CNN — Wall Street bankers, investors and economists have been puzzling for months whether a recession is imminent in the US. But for some Americans, the relentless economic pain that typifies a recession has already set in. Al Brown and his fiancée faced a tough question when reviewing their weekly budget in May: Which is … Read more
Washington, D.C CNN — The Federal Reserve has two goals: to keep inflation under control and to maximize employment. Mike Pence, who served as Donald Trump’s vice president and is fighting for leadership of the White House, is campaigning for the Fed’s employment mandate to be scrapped. Some economists say it wouldn’t be a bad … Read more
new York CNN — Home contents insurance is becoming more and more expensive and difficult to find in many places. There are no signs that the situation will improve any time soon. The culprits: climate change, rising costs for conversions or repairs and a sharp increase in premiums from reinsurance companies, which insurers use to … Read more