Home purchases made by real estate investors dropped 45.8% on an annual basis in the fourth quarter, according to a report from Redfin, the steepest decline since analysis of the data began in early 2000. This drastic change in investor activity was driven by rising mortgage rates, which made purchasing a home more expensive, and […]
Continue reading President Joe Biden has nominated Ajay Banga, the former Chief Executive Officer of Mastercard Inc., to serve as president of the World Bank. According to Biden, Banga is “uniquely equipped to lead the World Bank at this critical moment in history.”[0] He has spent over three decades managing successful global companies, creating jobs and bringing […]
Continue reading The Federal Reserve released today the minutes from its January 31/February 1 meeting, when the institution raised its benchmark rate by 25 basis points to 4.50-4.75%.[0] The notes revealed near unanimous support for recent hikes, but with a few dissenting in favor of more aggressive measures.[1] The minutes acknowledged that inflationary pressures have moderated, but […]
Continue reading NPR, the public radio broadcaster, announced today that it will layoff 10% of its workforce, or at least 100 employees, due to the erosion of advertising dollars, particularly for its podcasts, and the tough financial outlook for the media industry more generally.[0] In a memo to staff, CEO John Lansing wrote, “When we say we […]
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