Non-farm payroll data indicated that 916,000 jobs were added to the U.S. economy in March, the fastest pace since last summer, while the unemployment rate fell to 6%, according to a prepared release from the Bureau of Labor Statistics (BLS). “These improvements in the labor market reflect the continued resumption of economic activity that had been curtailed [...]
By David DiMolfetta Prospective homeowners are competing in a housing market dominated by high demand and limited supply, forcing housing prices up at a rate not seen in years, according to a Wall Street Journal report. The S&P CoreLogic Case-Shiller National Home Price Index, an indicator measuring average home prices in major city areas across [...]
By David DiMolfetta Noah Ahiable started his career with British Airways in 2017 to make a difference in the aviation industry, but an electrical IT failure on his first day working at the check-in counter affected some 75,000 passengers and revealed that the renowned airline didn’t have the manpower or tools to care for passengers who [...]
By David DiMolfetta In one of the few areas of U.S. politics that unite members of Congress from both sides of the aisle, Facebook CEO Mark Zuckerberg, Google CEO Sundar Pichai, and Twitter CEO Jack Dorsey were grilled by lawmakers in a March 25 House Energy and Commerce Committee hearing on the dangers of their social [...]
By David DiMolfetta Analysts expect that various American financial regulatory bodies, including the Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), Department of Justice (DOJ), and Consumer Financial Protection Bureau (CFPB), will continue enacting standard procedure in regulating American financial activities amid a new presidential administration. However, they anticipate novel developments in cryptocurrency [...]
In his second day testifying for the Senate Banking Committee alongside Treasury Secretary Janet Yellen, Federal Reserve Chairman Jerome Powell on March 24 expressed he was not concerned about rising bond yields that have hampered both investor and consumer views of the economy. “It seems that rates have responded to news about vaccination and [...]
A worldwide coffee shortage stemming from multi-pronged supply chain disruptions has caused the price of wholesale coffee to surge, Bloomberg News reported on March 23. A large production drop in Brazil caused by an ongoing drought and intense competition for steel shipping containers are contributing to these strains. “Everybody is feeling the pinch,” Christian Wolthers, the president of Wolthers [...]
By David DiMolfetta The Federal Reserve unanimously voted to continue holding the federal funds rate between 0 and 0.25% at least through 2023, concluding their second meeting of the year, according to a prepared statement from the central bank on Mar. 17. The federal funds rate is the interest rate that allows depository institutions to [...]
A quarterly release on U.S. financial accounts from the Federal Reserve on Mar. 11 shows that, on a collective basis, Americans saved a record amount of money during the pandemic. The value of Americans' total assets minus their liabilities jumped to $122.9 trillion in the fourth quarter of 2020 compared to $111.4 trillion at the end of [...]
In his first prime-time speech to the American people after signing a $1.9 trillion stimulus bill on March 11, President Joe Biden called on all U.S. states to expand COVID-19 vaccine eligibility to every adult by May 1. "If we do this together, by July the Fourth, there's a good chance you, your families, and [...]
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