These two states could decide if the US hits recession, warns Moody’s top economist
New York and California may be the final line between a stalled economy and a full-blown recession, according to Moody’s Analytics chief economist Mark Zandi.
Zandi, who has been warning for months that the U.S. is nearing a downturn, says the economic fate of the country’s two largest state economies could “tip the balance” for the nation.
Read MoreFederal Reserve faces dilemma amid expected rate cut decision
EJ Antoni, chief economist at The Heritage Foundation, explains why the Fed has been behind the curve in managing monetary policy.
The Federal Reserve is set to announce its next interest rate decision on Wednesday and the monetary policy meeting comes as the economy is facing a weakening labor market as well as elevated inflation.
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Read MoreFederal Reserve to make interest rate decision this week
Oct. 27 (UPI) — The Federal Reserve will meet Wednesday, as the U.S. government shutdown enters its fifth week, to decide whether to cut interest rates for a second time since September.
Last week, the Labor Department released its Consumer Price Index, showing inflation rose at a rate of 3% last month.
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Read MoreTrump administration narrows list of potential Federal Reserve chairs to 5
WASHINGTON (AP) — Treasury Secretary Scott Bessent on Monday confirmed the names of five candidates to replace Jerome Powell as chair of the powerful Federal Reserve next year.
On an Air Force One flight to Asia with President Donald Trump, Bessent said he would engage in a second round of interviews in the coming weeks and present a “good slate” of candidates to Trump “right after Thanksgiving.” Trump said he expected to decide on Powell’s replacement by the end of this year.
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Read MorePiper Sandler Maintains Bullish $48 Price Target on Avalo Therapeutics (AVTX)
Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!
AI is eating the world—and the machines behind it are ravenous.
Each ChatGPT query, each model update, each robotic breakthrough consumes massive amounts of energy.
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Read MoreThe Burst
Is This Old Buffett Favorite Now Worth Buying?
Once upon a time Wells Fargo was beloved by Warren Buffett. Despite scandal after scandal plaguing the company, his conviction couldn’t be shaken, until finally the accumulation of issues appeared to spark a sell.
As a reminder, here are the scandals that rocked Wells Fargo over the years:
- September 2016: The fake account scandal
- September 2016: Improperly repossessing service members’ cars
- December 2016: Wells Fargo fails its ‘living will’ test
- March 2017: More fake accounts
- March 2017: Flunked community lending test
- April 2017: Whistleblower wins $5.4 million and his job back
- August 2017: Lawsuit over overcharging small business retailers
- February 2018: Sacramento sues over discrimination against black and Latino borrowers
- March 2018: Wealth management investigation emerges
- April 2018: $1 billion settlement for mortgage locks and auto-loan issues
- May 2018: Altering business information without client knowledge
- May 2018: $480 million to settle securities-fraud lawsuit
- June 2018: SEC fine for leading investors astray
- July 2018: Refunds over add-ons like pet insurance and legal services
- August 2018: Hundreds of houses foreclosed on due to computer glitch
- August 2018: Wells Fargo pays $2.1 billion for its role in housing bubble
- March 2019: Wells Fargo among advisors sanctioned by SEC for fee-disclosure practices
Since Buffett offloaded his position,
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Read MoreThe Ivy
Is Another NVIDIA Stock Split Imminent?
NVIDIA has split its stock six times during its 25 years as a public company. The first stock split happened in 2001, and it doubled the number of shares available. If you owned 100 Nvidia shares before the split, you had 200 shares after. The most recent stock split occurred on May 22, 2024 and was 10:1 meaning for every 100 shares owned on May 21,
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Read MoreThe Spotlight
Insights: 1 Sporting Stock Billionaire Bet $500 Million On
When Stephen Mandel makes a big bet, it’s worth finding out why. He’s the President and portfolio manager at Lone Pine Capital, a $10 billion fund based in Greenwich, Connecticut.
As we analyzed his portfolio, it became clear why he’s running a billion dollar fund – just about every stock in his portfolio is undervalued on a discounted cash flow forecast basis.
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