Jay Powell’s ’90s dream is dead – CNN | CarTailz

A version of this story first appeared in CNN Business’s Before the Bell newsletter. Not a subscriber? You can login exactly here. You can listen to an audio version of the newsletter by clicking the same link. new York CNN business — The US economy added 263k jobs in November, 63k more than the consensus … Read more

Do you really need a retail credit card with a very high interest rate? – The epoch times | CarTailz

Credit cards make it easy to buy the things you want without having to carry cash around. As long as you are in the introductory phase, there is no problem. But when the high interest rate kicks in and you have a balance, it can be difficult to reduce your debt. New interest rates higher … Read more

Smaller rate hikes likely to come in December, says Fed Chair Powell – CNN | CarTailz

CNN business — Federal Reserve could slow pace of aggressive rate hikes as early as December, Fed Chairman Jerome Powell said at a business forum on Wednesday. “The time to slow the pace of rate hikes could come as early as December’s meeting,” he said in a remark at the Hutchins Center on Fiscal and … Read more

How do rising interest rates affect inflation? – GOBankingRates | CarTailz

shapecharge / iStock.com When high inflation hits the American economy, high interest rates are likely to follow. While rising interest rates can make all types of financing — from credit cards to home mortgages to car loans — more expensive, the (hopefully) short-term pain is worth it for the greater good of the economy. But … Read more

How do rising interest rates affect inflation? – GOBankingRates | CarTailz

shapecharge / iStock.com When high inflation hits the American economy, high interest rates are likely to follow. While rising interest rates can make all types of financing — from credit cards to home mortgages to car loans — more expensive, the (hopefully) short-term pain is worth it for the greater good of the economy. But … Read more

“The monthly payments will be pushed even higher.” What can you do when you need to buy a new car? – Market observation | CarTailz

When average monthly new car payments topped $700 in May and car prices hit record highs, many potential car buyers chose to sit on the sidelines until the market normalized. According to data company Cox Automotive, the average monthly new car payment hit another record high of $748 in October. Average payments for used cars … Read more

Mortgage rates fall for second straight week – CNN | CarTailz

Mortgage rates fell again this week after falling almost half a percentage point last week. According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.58% in the week ended November 23, compared to 6.61% the week before. A year ago, the 30-year fixed rate was 3.10%. Mortgage rates have risen for most of 2022, spurred … Read more

Mortgage Rates Plunge, Biggest Weekly Drop Since 1981 – CNN | CarTailz

Editor’s note: Freddie Mac, which has tracked weekly average mortgage rates since 1971 and has regularly made changes to its primary mortgage market survey, has changed the source of its November 17, 2022 data. Instead of surveying lenders, the weekly results are based on applications received from lenders submitted to Freddie Mac. Find out more … Read more

Britain brings austerity back. Here’s why – CNN | CarTailz

London CNN business — The last time a UK finance minister unveiled tax and spending plans, markets faltered and the country’s prime minister ended up losing her job. The new government is not aiming for a repeat. On Thursday, Chancellor Jeremy Hunt will present a budget aimed at restoring confidence in the UK’s ability to … Read more

Crypto is in crisis. It’s not just because of FTX – CNN | CarTailz

new York CNN business — The stunning demise of FTX, one of the largest cryptocurrency exchanges, sent shockwaves through the crypto universe last week. Sam Bankman-Fried, the 30-year-old crypto titan and CEO of FTX, watched as billions of his wealth vanished in a bankruptcy filing that shook the trillion-dollar industry to its core. The pain … Read more