A decade of rising house prices is over. The UK economy will feel the pain

A decade of rising house prices is over.  The UK economy will feel the pain

London CNN Business — For years, home ownership in the UK has been a one-way venture. Prices have risen steadily since the global financial crisis, increasing in even greater increments after the pandemic began. Fueled by a post-lockdown buying frenzy, the average UK house price hit a record £275,000 ($315,474) in December, up £27,000 on … Read more

Interest rates: What you need to know about the Federal Reserve’s historic rate hike

Interest rates: What you need to know about the Federal Reserve’s historic rate hike

Washington DC CNN — The Federal Reserve on Wednesday approved a fourth straight rate hike of three-quarters of a percentage point as part of its aggressive fight to bring down the white-hot inflation plaguing the US economy. The increased hike brings the central bank’s benchmark lending rate to a new target range of 3.75% to … Read more

The US spent half a trillion dollars last year alone to finance its mountain of debt

The US spent half a trillion dollars last year alone to finance its mountain of debt

New York CNN Business — The Federal Reserve’s war on inflation isn’t just painful for homebuyers and people with credit card debt. Uncle Sam is also being pressured by higher borrowing costs. The cost of financing America’s growing mountain of debt is rising rapidly as the Fed struggles to put out the inflationary fire by … Read more

The Fed may have to blow up the economy to get inflation under control

The Fed may have to blow up the economy to get inflation under control

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can register right here. New York CNN Business — The Federal Reserve is most likely to raise interest rates by three-quarters of a percentage point again on Wednesday, its fourth big increase in a row. And it … Read more

Biden’s final midterm message: Republican economic plans would ‘create chaos’​​​​

Biden’s final midterm message: Republican economic plans would ‘create chaos’​​​​

CNN — President Joe Biden stepped up his efforts to paint Republicans as a threat to Americans’ pocketbooks in a speech from upstate New York on Thursday, a closing argument that focused less on his own accomplishments and more on what the GOP might do if they take control of Congress. Biden’s visit to a … Read more

Joe Biden: In 14 days, the American people will face an election

Joe Biden: In 14 days, the American people will face an election

Editor’s note: Joe Biden is the President of the United States. The views here are his own. Read more statement on CNN. CNN — Over the past almost two years, we have made tremendous progress. My administration, working with Democrats in Congress, is building an economy that grows from the bottom up from the middle. … Read more

Trump Org. The tax fraud trial starts on Monday

Trump Org.  The tax fraud trial starts on Monday

CNN — Jury selection begins Monday in the Trump Organization’s tax fraud and grand larceny trial in New York, a symbolic moment after years of investigations that put former President Donald Trump’s business dealings before a jury. Trump is not charged in the case and is not expected to be involved in any wrongdoing, but … Read more

Democrats predict an “extremely busy” lame duck. Here’s what’s on the agenda

Democrats predict an “extremely busy” lame duck.  Here’s what’s on the agenda

CNN — A packed legislative to-do list awaits Congress when it returns to session after the midterms — and Democrats, who currently control both chambers, will face a ticking clock to pass key priorities if Republicans win back the House or manage to turn the Senate into Parliament. upcoming elections. Senate Majority Leader Chuck Schumer … Read more

3 things that will help reduce the sting of high inflation

3 things that will help reduce the sting of high inflation

There really isn’t anything nice to say about inflation when it comes to your bottom line. It’s hard on your wallet. It’s hard on your savings because it reduces the purchasing power of the dollars you’ve socked away. And it’s tough on your paycheck because chances are your last raise didn’t keep up with headline … Read more

How Liz Truss’ tenure as British Prime Minister went from bad to worse

How Liz Truss’ tenure as British Prime Minister went from bad to worse

CNN — Taking the keys to 10 Downing Street in the wake of Boris Johnson’s political death, Liz Truss vowed to “ride out the storm” of Britain’s economic crisis. A good six weeks later she was engulfed by a hurricane of her own making. It was a humiliating end to a disastrous premiership marked by … Read more