Quoted By:
>Powell: "the time has come" for the central bank to begin lowering interest rates
>Fed Chair Jerome Powell has said: The time has come for policy to adjust
>Fed's Powell: we do not seek or welcome further cooling in labor market conditions.
>The job market cannot cool too much more without a recession, former Fed vice chair Alan Blinder said.
>The personal saving rate down to 3.4% as of June 2024, updated at the end of July, per FOX. Pre-pandemic in January 2020, the personal saving rate was at 7.2%
>Real estate insolvencies in Canada set to surpass levels of global financial crisis, per the Globe and Mail.
>Nearly 29% of single family homes were purchased by investors in Miami, per Redfin.
>Food prepared at home is still the better bet for saving money — with prices growing at a pace of just 1.1% annually compared to 4.1% for dining out, per Axios.
>"Wonder why grocery prices are still high? So does the US government," per KXAN of NBC. After surging to 13.5% in August 2022, year-over-year grocery inflation stood at 1.1% in June of 2024.
>For those who missed it, US new home sales surged to 739K in July, marking a 10.6% MoM jump (!!!), highest MoM change since August 2022 now. - New Home Sales (Jul): 739K (vs 624K; prev: 668K) - New Home Sales (MoM) (Jul): 10.6% (vs 1.0%; prev: 0.3%)
Bros, is this really it? The big crash coming in 2008, 2000 or even 1929 style?
