Federal Reserve Chair Jerome Powell recently addressed the nation at the Fed’s annual retreat in Jackson Hole, Wyoming. During his speech, Powell emphasized the need for policy adjustments to be made in the near future. While he did not provide specific details on the timing or extent of these adjustments, he made it clear that
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The Biden administration announced on Friday that it will resume offering free at-home Covid-19 tests to American households in late September. This decision comes as the virus has gained a stronger foothold in the U.S. this summer, with a significant increase in Covid cases. Americans will soon be able to request four free tests through
The annual Monterey Car Week auction saw a 3% decrease in sales compared to the previous year, with a total of $391.6 million in sales across five auction houses. This decline is attributed to a shift in collector preferences from classic cars of the 1950s and 1960s to more modern vehicles. Only 72% of the
The shareholder returns of leading homebuilders such as D.R. Horton and Lennar managed to outperform the S&P 500 from August 2014 to August 2024, which initially seems like a positive indicator. However, the recent downgrade in the investment outlook for both companies raises concerns. This points to potential underlying issues that may impact the future
The Covid-19 pandemic brought about a significant change in the labor market dynamics of the United States. Remote work, which was once considered a temporary solution, has now become a permanent fixture, according to economists. Nick Bunker, the economic research director for North America at job site Indeed, describes the work-from-home revolution as one of
As retirees, it is crucial to have a clear understanding of the various sources of income that may be available to you, including Social Security, pensions, retirement plans, and other financial resources. Managing these income streams effectively requires careful planning to ensure compliance with IRS regulations and avoid potential penalties. For the year 2024, retirees
Philadelphia Federal Reserve President Patrick Harker has recently spoken out in favor of an interest rate cut in September, providing a strong endorsement for the move. His statement during the Fed’s annual retreat in Jackson Hole, Wyoming, indicated a high level of confidence in the necessity of monetary policy easing in the near future. This
In July, closed sales of previously owned homes increased by 1.3% compared to June, reaching a seasonally adjusted, annualized rate of 3.95 million units. This marked the first increase in five months, although sales were still 2.5% lower than the same time the previous year. The Northeast region saw the largest gains in sales, while
Bavarian Nordic, a biotech company based in Denmark, experienced a significant 13% jump in its shares following the announcement of stronger-than-expected earnings. The company reported second-quarter revenues of 1.43 billion Danish krone and an operating profit of 420 million krone, surpassing the expectations of analysts. This positive financial performance contributed to the surge in stock
The future of Paramount Global hangs in the balance as a competing offer from Edgar Bronfman Jr. threatens to supersede the current merger agreement with Skydance. Initially offering $4.3 billion for Shari Redstone’s National Amusements, Bronfman has now upped the bid to $6 billion in an attempt to acquire a minority stake in Paramount. This