Federal Reserve Bank of Cleveland President Loretta Mester said the U.S. central bank is close to wrapping up its aggressive tightening campaign if the economy evolves as expected. “Regardless of the decision made at our next meeting, if the economy evolves as anticipated, in my view, we are likely near or at a holding point
It looks as though Wall Street has given up on residential real estate. In 2021 and 2022, investor enthusiasm seemed to know no bounds. They poured billions into the area, eager to cash in on soaring rents. According to John Burns Research & Consulting, large landlords at the height of that boom bought almost 2.5%
Today’s housing market is a toxic mix of high mortgage rates, high prices, tight supply and strangely strong pent-up demand — and it’s scaring off buyers and sellers alike. Prices were already high, driven by supercharged demand during the height of the Covid-19 pandemic. Now the popular 30-year fixed mortgage rate is at 8%, the
Maine is one step closer to realizing ambitions of a native offshore wind energy industry. The federal Bureau of Ocean Management on Thursday announced the findings of a study carried out in conjunction with the National Oceanic and Atmospheric Administration identifying 3.5 million square acres in the Gulf of Maine they believe to be suitable
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The long-awaited delivery of aid to the besieged Gaza Strip has been delayed by disagreements over how to ensure the supplies cannot be used by Hamas, according to three people familiar with the matter. US
Bitcoin (BTC) tapped $30,000 into the Oct. 20 Wall Street open as analysts directed attention to the weekly close. BTC/USD 1-hour chart. Source: TradingView BTC price sets up weekly close showdown Data from Cointelegraph Markets Pro and TradingView captured new two-month BTC price highs of $30,233 on Bitstamp. The pair showed continued strength during the
A California-based company’s plan to sell up to $500 million of tax-exempt environmental improvement revenue bonds through the Indiana Finance Authority to build a garbage-to-jet fuel facility in Gary is on hold after the company’s bonds for a similar plant in Nevada went into default. Pleasanton, California-based Fulcrum BioEnergy sold about $290 million of environmental
Municipal market participants have had to get creative to manage the current market but should not get creative on the regulatory front, warned one of the market’s key Washington regulators. “Regulators often talk about when there is reduced issuance, this is where a lot of problematic deals come up,” said David Sanchez, head of the
Stay informed with free updates Simply sign up to the US foreign policy myFT Digest — delivered directly to your inbox. Joe Biden urged Congress on Thursday to approve a security package for Israel and Ukraine worth tens of billions of dollars, saying America needed to overcome its domestic divisions to protect two vital allies
Bitcoin (BTC) kept pressure on $28,500 after the Oct. 19 Wall Street open ahead of a key speech on United States economic policy. BTC/USD 1-hour chart. Source: TradingView Lepard: Powell may flip “very dovish” Data from Cointelegraph Markets Pro and TradingView showed BTC price action gaining strength ahead of commentary by Jerome Powell, chair of
Federal Reserve Governor Christopher Waller said the U.S. central bank can wait and gather more data before deciding if the economy needs further monetary restraint, signaling that he favors holding interest rates steady when officials meet in two weeks. “I believe we can wait, watch and see how the economy evolves before making definitive moves
Reddit has said it will soon shutter its long-running, blockchain-based rewards service “Community Points,” citing scalability concerns. In an official Oct. 17 announcement in the r/cryptocurrency subreddit, a Reddit team member said while the platform saw “some future opportunities for Community Points, there was no path to scale it broadly across the platform.” The Community
Ethereum decentralized finance (DeFi) protocol Hope Lend has next to zero assets left in its protocol after a devastating hack. According to multiple blockchain security firms, on Oct. 18, two individuals, a frontrunner who beat the original hacker after discovering the exploit, and the original hacker itself, stole a combined 526 Ether (ETH) from Hope
Former US President and Republican presidential hopeful Donald Trump holds a campaign event during a Club 47 USA event at Palm Beach County Convention Center in West Palm Beach, Florida on October 11, 2023. Giorgio Viera | Afp | Getty Images Former President Donald Trump returned to court in Manhattan on Tuesday to attend the
The Oklahoma Turnpike Authority took on a tough market Tuesday when it sold $500 million of bonds in its inaugural issuance of debt for a controversial expansion program, but the issuer said the deal was met with good demand. Underwriters led by RBC Capital Markets, priced 5% coupon second senior revenue bonds, serials 2035-2043, with
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. US president Joe Biden landed in Israel on Wednesday amid a storm of recriminations over an explosion at a hospital in Gaza that, according to Palestinian officials, killed hundreds of people and inflamed tensions in
Bitcoin (BTC) continues to hold key support which new analysis says “improves bullish probabilities.” In an X thread on Oct. 17, Caleb Franzen, senior analyst at Cubic Analytics, drew attention to two moving averages now forming the BTC price battleground. Analysis: Enduring Bitcoin support “a great sign” Bitcoin is wedged between the 200-week simple moving
The new bank probe by Texas Attorney General Ken Paxton is one of his first major actions since his return to the AG’s office after facing impeachment proceedings earlier this year. Texas Attorney General Ken Paxton’s office said it’s reviewing whether 10 financial companies, including Bank of America and JPMorgan Chase, violate a Republican-backed state
Ethereum restaking — proposed by middleware protocol EigenLayer — is a controversial innovation over the past year that has some of the brightest minds worried about the potential ramifications. Restaking involves reusing staked or locked-up Ether tokens to earn fees and rewards. The restaked tokens can then help secure and validate other protocols. Proponents believe
Signage is seen at The Collection at Morristown, a housing development by Lennar Corporation, in Morristown, New Jersey, November 13, 2021. Andrew Kelly | Reuters Mortgage rates last week rose for the sixth straight week, causing demand for home loans to drop to the lowest level since 1995. Total application volume fell 6.9% compared with
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