Economic News
The macro economy has a large impact on your personal finances. To help you manage your money better we track the import economic trends. Stay up to date so you can be prepared to adjust your personal finance strategies.
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Mortgage Refinances Soar as Interest Rates Fall
Homeowners looking to decrease their monthly mortgage payments by refinancing at a lower interest rate may be in luck. However it seems the secret is already out. As CNN Business reports the number of homeowners refinancing their mortgages has boomed as the average mortgage rate reaches multi-year lows. According to the Mortgage Bankers Association, the…
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Federal Reserve Cuts Interest Rates, First Time Since 2008
This week the Federal Reserve voted to lower its key short-term interest rate by a quarter-point. The widely expected move marked the first time the Fed has cut rates in more than a decade, moving the new target to 2%-2.25%. As USA Today reports, the decision comes even as most economic indicators remain positive. In…
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U.S. Economy Grows 2.1% in Q2 2019
With the United States economy currently enjoying its longest-ever expansion period, it would seem that each quarterly gross domestic product (GDP) report comes with enhanced emphasis. Thus this morning’s release showing 2.1% growth for Q2 has been met with mixed reactions and analyses. For example, while the second quarter’s 2.1% was a full point lower…
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U.S. Job Growth Rebounds in June
Following a disappointing May jobs report (that just so happened to be released the same day President Trump canceled planned tariffs on Mexico), it seems that the United States jobs market bounced back in June. This morning the Labor Department released its latest report showing that the economy added a better-than-expected 224,000 jobs. That’s nearly…
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S&P 500 Enjoying its Best June Since 1955
June 2019 may not have been the smoothest for the stock market but it is at least on track to end things on a high note. As CNN Business notes, the S&P 500 is likely to see its best June in more than six decades. This comes after weeks of rises and falls that hinged…
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20% of Americans Believe the Next Recession Has Already Begun
Looking to when the next recession will hit, 55% of experts said it would arrive in one to two years while 44% estimated it would take two years or more. However, although the top response among everyday Americans was “two or more years” with 26%
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Survey Finds Majority of Americans Want a Fed Rate Cut
When the Federal Reserve meets this week, for the first time in months the big question will not be whether or not they’ll raise interest rates but whether they might cut them. According to the personal finance site WalletHub, there’s a 23% chance they do so during their next session, with that probability increasing to…
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Trump Cancels Mexico Tariffs While Threatening China on Trade
Today was going to be the day that a new 5% tariffs on all imported goods from Mexico was supposed to go into effect (before climbing another five points monthly until it reached 25%). However President Trump announced on Friday that he was canceling that plan after our southern neighbors allegedly agreed to a deal…
