interest rates

Businesses don’t buy ’em unless they think they need ’em.

High mortgage rates and building costs have reversed the pandemic trend of bigger houses.

As the Fed wraps up its two-day meeting, economists are looking to the Treasury Department for details on how the federal government plans to borrow money through the end of the year.

The Bank of Japan’s “yield curve control policy” could be on its way out as central banks around the world raise rates to beat inflation.

In one poll, 44% of respondents say they’re stressed about the economy. Meanwhile, 34% say they’re optimistic.

Rates now average nearly 29%, according to Bankrate. By comparison, the typical rate for a standard Visa or Mastercard is around 21%.

The yield on the 10-year Treasury briefly hit 5%, the highest level since 2007. A resilient economy and expanding debt are pushing rates up.

Jerome Powell spoke Oct. 19 and said the Federal Open Market Committee would be “proceeding carefully.”

The number of completed homes rose last month. But further up the housing pipeline, homebuilders are starting fewer projects right now.

Companies like Target, Walmart and Kohl’s held sales this week aimed at holiday shoppers, and Amazon just wrapped up its second Prime Day event of the year.