Financial system

Danielle Hale, Chief economist for, breaks down which regions of the country continue to have the most affordable housing despite record level home sales. Hale also shares advice for homebuyers and sellers in the current market.

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A For Sale sign is displayed in front of a house in Washington, DC, on March 14, 2022.

Now taking half in chief economist shares her advice for homebuyers and sellers

Inflation is making it harder for food banks across the US to meet the needs of people seeking some respite from the rising cost of groceries and other supplies. CNN’s Gabe Cohen has more.

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St. Mary’s Meals Financial institution

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Meals financial institution ask skyrockets as cash-strapped American citizens stumble on abet over inflation

During an interview with CNN’s Poppy Harlow, Goldman Sachs CEO David Solomon discusses what he wants the Biden administration to do to address nationwide economy and inflation concerns.

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Hear Goldman Sachs CEO’s message to the Biden administration

CNN Business correspondent Alison Kosik explains how manufacturers make small changes to products but keep them at the same price. The process called “shrinkflation” usually happens when companies are trying compensate for high costs.

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Products on the cabinets getting smaller? It’s likely you’ll well presumably blame ‘shrinkflation’

Nela Richardson, Chief Economist at ADP, explains what the Fed may do to fight higher-than-expected inflation, and if avoiding a recession is possible.

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U.S. Senate Committee on Banking, Housing, and Metropolis Affairs

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Amid inflation, economist warns heading off recession may perhaps well no longer be ‘easy path’

Here’s how three past presidents grappled with skyrocketing oil prices, runaway inflation, and crippling recessions that hit during their terms.

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circa 1950: The 33rd President of the United States of America, statesman Harry S Truman (1884 - 1972), waving from a train. (Photo by Hulton Archive/Getty Images)

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What can Biden in actual fact attain about inflation? History is a handbook

The Consumer Price Index for June shows prices jumped by 9.1% year-over-year. CNN’s Matt Egan breaks down what’s driving the surge.

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‘Worse than we anticipated:’ CNN reporter breaks down inflation recordsdata

The US dollar is rising fast and is now worth the same as the euro for the first time in 20 years. Watch how CNN reported on the last time this happened in 2002.

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Glance befriend at when the euro hit parity with the dollar in 2002

The US economy added 372,000 jobs in June, a signal that the labor market remains robust despite recession fears. CNN’s Christine Romans, Rahel Solomon and Zain Asher discuss the Bureau of Labor Statistics report.

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‘The USA’s job machine is firing on all cylinders’: Romans on the June jobs file

Is a recession inevitable? Inflation and gas prices are up and stocks just posted their worst first-half in more than half a century. CNN Business Senior Editor Allison Morrow joins “Nightcap’s” Jon Sarlin to discuss what investors and analysts are predicting for the second half of 2022. To get the day’s business headlines sent directly to your inbox, sign up for the Nightcap newsletter.

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Recession is seemingly coming. How terrifying will it be?

CNN’s Gabe Cohen reports on the increasing cost of child care across the US as inflation and teacher shortages force daycares to raise rates.

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Minute one care costs are rising. Seek for the methodology of us are coping

Citi’s Global Chief Economist Nathan Sheets tells CNN’s Julia Chatterley very high inflation could slow consumer spending by the fall.

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Citi chief economist: Recession threat is rising

Schwab Asset Management CEO Omar Aguilar explains why companies and consumers are better positioned financially today to deal with an economic downturn compared to the Great Recession.

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markets now omar aguilar recession_00000304.png

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Schwab top strategist: Patrons ‘grand larger prepared’ for downturn compared with Huge Recession

Inflation is at a 40-year high, and mortgage rates and rents are surging. Here’s why some renters say they aren’t sure they can pay their bills. CNN’s Omar Jimenez reports.

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‘Pay rent or receive some food’: Hundreds and thousands of renters doubtful in the event that they are able to form rent

The UK has reached a 40-year high in inflation and faces a risk of recession amid a shrinking economy. CNN’s Clare Sebastian speaks with locals about pressures surrounding rising mortgage rates and food prices.

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Unnerved UK financial system may perhaps well outcome in a recession amid 40-yr high inflation

Federal Reserve Chairman Jerome Powell said there is a risk that the Fed’s aggressive interest rate hikes cause an economic downturn in the United States. CNN’s Matt Egan reports.

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Powell: Recession after payment hikes surely a likelihood

US home costs include been up almost 20% in Would possibly per chance compared with the yr earlier than. But there include been indicators the market began to chill as rising mortgage rates pushed extra doable traders to the sidelines.

Residence costs rose 19.7% in Would possibly per chance from the yr earlier than, a reasonably smaller soar than the 20.6% allege considered in April, in accordance with the S&P CoreLogic Case-Shiller US National Residence Label Index.

“Housing recordsdata for Would possibly per chance 2022 endured solid, as impress beneficial properties decelerated reasonably from very high ranges,” says Craig J. Lazzara, managing director at S&P Dow Jones Indices. “Despite this deceleration, allege rates are quiet extraordinarily sturdy.”

Solar Belt cities seen the ideal impress will increase amongst the 20 US cities tracked by the index.

Tampa led the methodology with a 36.1% impress form bigger in Would possibly per chance from the yr earlier than. It was as soon as adopted by Miami, which was as soon as up 34%, and Dallas, with a 30.8% form bigger.

All 20 cities seen double-digit impress will increase in Would possibly per chance from a yr earlier than.

Nevertheless, he acknowledged, at the metropolis stage, there may perhaps be evidence of deceleration. Label beneficial properties for Would possibly per chance exceeded those for April in ideal four cities. As just as of late as February of this yr, all 20 cities include been accelerating.

“Prices endured to be the strongest in the South and Southeast, each and each of which recorded 30.7% beneficial properties yr-over-yr,” acknowledged Lazzara.

But rising mortgage rates include had an impression, making the worth of financing a condominium too costly for some doable traders. For all of Would possibly per chance the standard rates of interest for a 30-yr, mounted-payment mortgage include been above 5%, having been as low as 3.22% in January, in accordance with Freddie Mac.

“We’ve famed beforehand that mortgage financing has turn out to be extra costly as the Federal Reserve ratchets up rates of interest, a job that was as soon as ongoing as our Would possibly per chance recordsdata include been gathered,” Lazzara acknowledged. “Accordingly, a extra-tense macroeconomic ambiance may perhaps well no longer beef up out of the ordinary home impress allege for for some distance longer.”