Petersburg Post Home

The Petersburg Post



US   MARKETS  
The Fed may have pumped so much money into the economy that it's now taking way longer to cut rates
- US Federal Reserve chair Jerome Powell damped expectations of impending interest rate cuts on Tuesday — a sign that the Fed may have pumped so much money into the economy during the pandemic that the surplus is still making its way through the country. Speaking on a panel discussion at the Wilson Center in Washington, Powell said while inflation pressure has eased in the last year, it hasn't come down enough ...

Source: insider.com
MARKETS  
China's economy grew 5.3% in the first quarter, beating expectations
- China 's economy in the first quarter grew faster than expected, official data released Tuesday by  China's National Bureau of Statistics showed . Gross domestic product in the January to March period grew 5.3% compared to a year ago — faster than the 5.2% expansion in the fourth quarter of 2023 and 4.6% growth expected by economists polled by Reuters. On a quarter-on-quarter basis, China's GDP grew 1.6% ...

Source: nbcnews.com
US   MARKETS  
Housing Starts Fall on Interest Rate, Financing Concerns
- Housing starts fell in March with interest rates somewhat higher than expected last month as the latest inflation readings failed to show improvement. Builders are also still facing higher supply-side costs and tighter lending conditions. Overall housing starts decreased 14.7% in March to a seasonally adjusted annual rate of 1.32 million units, according to a report from the U.S. Department of Housing and Urban ...

Source: eyeonhousing.org