Finance
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The Fed is fed up with inflation and will bring down the hammer with a series of rate hikes this year, reversing earlier cuts, BofA says
The Federal Reserve has tolerated inflation above its 2% target for five years as it navigated a series of shocks, but analysts at Bank of America said that patience is coming to an end. In a note on Monday, BofA changed its forecast and predicted the Fed will raise rates by a quarter point three…
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Texas and Charlotte used to build huge McMansions—now they’re copying the California design tricks they once mocked
Just as Gen Z is resurfacing the Tuscan Mom and McMansion aesthetics of the aughts, the harsh reality is that new homes are actually getting smaller and more expensive. The average new home in America is now 2,175 square feet, a 5.6% decline from the peak reached in February 2019, according to a new report…
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Current price of oil as of June 22, 2026
As of 8:45 a.m. Eastern Time today, oil sold for $79.25 per barrel (using Brent as the benchmark, which we’ll get into momentarily). That’s $3.20 lower than yesterday and approximately a 59-cent rise over the past year. Oil price per barrel % Change Price of oil yesterday $82.45 -3.88% Price of oil 1 month ago…
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Alan Greenspan dies at 100. As Fed chair, he was hailed as the ‘Oracle’ but later admitted he made a mistake assuming banks could self-regulate
Former U.S. Federal Reserve Chair Alan Greenspan died Monday from complications of Parkinson’s Disease, said his wife of 29 years, NBC News correspondent Andrea Mitchell. He was 100. “To me he was my husband, who shaped my life from our very first date in 1984,” Mitchell said. “He had ‘irrational exuberance’ for baseball, the Washington…
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Former New York governor Andrew Cuomo to co-chair joint venture between NYSE owner and crypto exchange OKX
One of New York’s most prominent politicians is pivoting to digital assets. Andrew Cuomo, the former governor of New York and a New York City mayoral candidate in 2025, will co-chair a joint venture between the owner of the New York Stock Exchange and the crypto exchange OKX, the two companies announced on Monday. The…
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South Korean chipmakers are being paid such massive bonuses it’s becoming an inflation problem for the central bank
There’s some debate in the economics world about whether a “wage price spiral” exists in reality, and how much of a danger it poses. And yet the Bank of Korea is so alarmed by the massive bonuses being paid to workers building semiconductors that it has flagged this as an inflationary concern A wage-price spiral…
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As public sentiment sours, Indonesia awaits MSCI verdict which risks $13 billion in capital outflows
The day of reckoning for Indonesia’s stock market is here. MSCI, the global benchmark provider, will determine whether to downgrade Southeast Asia’s largest economy to “frontier market” status, or keep it as an emerging market, on June 23. If MSCI downgrades Indonesia, as much as $13 billion could flow out of the country, as calculated…
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A pet emergency can cost $8,000. For millions of Americans, that bill is now a ‘life and death’ decision
Having a sick pet is emotionally a lot to handle. But now with the skyrocketing costs of emergency vet care, it can mean Americans are looking at their bank accounts first before making important decisions about their pet’s care. It’s because many households haven’t or don’t have the capacity to financially plan for that moment.…
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Dow futures drop and oil jumps as first day of U.S.-Iran talks sees Trump threaten Tehran on Hormuz: ‘You close it and you won’t have a country’
U.S. stock futures fell and oil prices rose after peace talks between the U.S. and Iran got off to a rocky start on Sunday, with President Donald Trump wasting no time with threats to renew war. Futures tied to the Dow Jones industrial average fell 191 points, or 0.37%. S&P 500 futures were down 0.52%, and Nasdaq futures lost…
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Why men keep dropping out of the labor force: It starts in childhood, when kids see how males around them struggle, economists say
The male labor force participation rate in the U.S. has been falling for generations, perplexing economists who have struggled to come up with an explanation. According to the Labor Department’s latest data, the rate for men 20 years and older was 69.5% in May, down from 76% in May 2006. That means fewer men were…