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According to recent statements from Federal Reserve Governor Michelle Bowman and various other officials, it is unlikely that the Fed will cut interest rates in 2024, barring any unexpected economic shocks. Bowman, who expressed caution over further rate cuts during an interview and a speech in Texas, cited persistent inflation as a reason for…
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During a question-and-answer session at the Louisiana Bankers Association Annual Conference, Federal Reserve Bank of Dallas President Lorie Logan stated that it is premature to consider reducing borrowing costs due to disappointing inflation data in the initial few months of the year. Logan further mentioned that there are uncertainties surrounding how restrictive policy currently…
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Nonbank mortgage companies, which now make up over two-thirds of the mortgage origination market, pose unique risks and vulnerabilities that can negatively impact financial stability, according to a report published by the Financial Stability Oversight Council (FSOC). These firms, which include Quicken Loans and Rocket Companies, differ from traditional banks in their specialized business…
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According to Atlanta Federal Reserve President Raphael Bostic, the US central bank is likely to follow through with rate cuts this year, despite some uncertainty surrounding the timing and extent of these adjustments. Bostic, who is also a voting member of the Federal Open Market Committee (FOMC), previously expressed confidence that interest rates could…
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Following the release of official figures, it is announced that the British economy has experienced a significant rebound during the first quarter of the current year, successfully concluding what experts referred to as a “technical recession”. According to the Office for National Statistics, the economy increased by 0.6% in comparison to the previous three-month…
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Following growing skepticism surrounding the source of a $237 million donation made to Florida A&M University (FAMU), the historic Black institution has chosen to suspend any further processing of the gift. The donor, Gregory Gerami, a 30-year-old Texan hemp farming executive, previously attempted to present a significant gift to Coastal Carolina University, though this…
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Federal officials are closely examining the points and miles awarded through credit card rewards programs and airline loyalty schemes due to concerns about their complexity, lack of transparency, and potential harm to consumers. Both the Department of Transportation (DOT) and the Consumer Financial Protection Bureau (CFPB) have raised issues regarding the limited redemption opportunities,…
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The United Kingdom has emerged from a brief and mild recession, as preliminary data from the Office for National Statistics (ONS) revealed a 0.6% increase in gross domestic product (GDP) during the first quarter of 2024. This positive result comes following two successive drops in Q4 2023 and Q3 2023, each registering decreases of…
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Colonial Pipeline Company has announced that it will allocate spaces for shipments during Cycle 29 on Line 20, which transports distillates from Atlanta to Nashville, Tennessee. This information will become available to shippers on May 13. Colonial typically releases allocation details when there are more nomination requests for product transportations than they can accommodate…
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Based on the latest information available, the author suggests that readers should consider buying Nvidia stock before its first-quarter earnings report on May 22. The company is a dominant player in the AI chip market, holding between 80% and 95% market share in AI chips, according to analysts. Nvidia’s graphics processing units (GPUs) are…