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The US economy adds 263,000 jobs in November, better than expected as hiring remains solid

November jobs report provides critical insight into the health of the US labor market U.S. job growth rose faster than expected in November, as the labor market remained resilient in the face of higher interest rates, scorching-hot inflation, and mounting recession fears. Employers added 263,000 jobs in November, the Labor Department said in its monthly payroll report released… Read More »The US economy adds 263,000 jobs in November, better than expected as hiring remains solid

U.S. consumer spending powers ahead in October; inflation cooling

U.S. consumer spending increased solidly in October, while inflation moderated, giving the economy a powerful boost at the start of the fourth quarter as it faces rising headwinds from the Federal Reserve’s aggressive monetary policy tightening. The labor market, the economy’s other pillar of support, continues to show resilience. The number of Americans filing new… Read More »U.S. consumer spending powers ahead in October; inflation cooling

U.S. Economic Growth Slowed This Fall, Fed’s Beige Book Says

Central bank’s business contacts saw greater economic uncertainty amid inflation and higher interest rates U.S. economic growth eased this fall with business activity in some parts of the country stalling or declining, the Federal Reserve said in a Wednesday report. Businesses also expressed greater uncertainty and increased pessimism for the U.S. economy as prices and interest… Read More »U.S. Economic Growth Slowed This Fall, Fed’s Beige Book Says

Fed Chief Jerome Powell Signals Slowdown in Rate Hikes: What the Experts Are Saying

Federal Reserve Chair Jerome Powell signaled that the central bank will slow its pace of rate hikes(opens in new tab) next month, but stressed that borrowing costs will remain high for the foreseeable future in a bid to halt the worst inflation(opens in new tab) in four decades. In a speech delivered at the Brookings Institution in Washington, D.C., on Wednesday,… Read More »Fed Chief Jerome Powell Signals Slowdown in Rate Hikes: What the Experts Are Saying

How to avoid mistakes with required minimum distributions from your retirement accounts

KEY POINTS You’ve got about a month left to make sure you get it right when it comes to mandatory withdrawals from retirement accounts. Required minimum distributions, or RMDs as they’re called, are annual amounts that must be withdrawn beginning in the year you reach age 72 — up from age 70½ before the Secure Act took effect… Read More »How to avoid mistakes with required minimum distributions from your retirement accounts

Watching Rates and Inventory as Home Sales Keep Falling

Nine Straight Months In January of this year, the number of single-family homes sold rose month-over-month, according to the National Association of Realtors®. Since then, the metric has fallen each month, coinciding with a rise in mortgage rates. As the average rate on a 30-year fixed mortgage hovers near 7%, many market observers contend prices… Read More »Watching Rates and Inventory as Home Sales Keep Falling