News and Trends
Consumer prices rose 8.5% in July, less than expected as inflation pressures ease a bit- CNBC--8.10.22
The consumer price index rose 8.5% in July from a year ago, below expectations. The pullback came largely due to a drop in gasoline prices. Economists surveyed were expecting headline CPI to increase 8.7% on an annual basis. 
Coinbase shares drop on billion-dollar loss in second quarter and revenue miss- CNBC--8.9.22
Coinbase's revenue decline almost 64% in the quarter as cryptocurrency prices fell. Coinbase reported a $1.1 billion net loss, according to a letter to shareholders.
Home listings surge at record rate as housing market starts to cool- Fox Business--8.9.22
The national inventory of homes for sale grew at a record pace for the third consecutive month in a row. This is the latest sign that rising borrowing costs are starting to cool off the housing market.
The US economy is splitting in 2- Business Insider--8.7.22
The economy is weighing on Americans differently, depending on your income. Brands are reporting that lower income shoppers are cutting back while luxury thrives.
The average American has withdrawn $600+ from savings to stay afloat during inflation- Market Watch--8.8.22
Living costs have been rising steadily thanks to a mismatch between available supply and demand and tensions overseas have drove up gas prices. These circumstances have forced many Americans to dip into their savings just to make end meet.
Consumer confidence in the housing market hits the lowest point in over a decade- CNBC--8.8.22
Consumer confidence in the housing market dropped to the lowest level since 2011, as both buyers and sellers have become more pessimistic.
Democrats just agreed on a bumper tax, healthcare, and climate bill. Here's what's new, what hasn't changed — and what it means for you.- Business Insider--8.5.22
Democrats are on the brink of passing their proposed $739 billion Inflation Reduction Act. This bill provides cheaper prescription drugs, EV tax credits and a levy on stock buybacks.
Bank of England launches biggest interest rate hike in 27 years, predicts lengthy recession- CNBC--8.4.22
The Bank of England has hiked interest rates by 50 basis points, its largest single increase since 1995 and projected the U.K.'s longest recession since the global financial crisis.
China conducts ‘precision missile strikes’ in Taiwan Strait- AP News--8.4.22
China conducted "precision missile strikes" Thursday in waters right off Taiwan's coasts as part of military exercises that have raised tensions in the region following a visit by U.S. House Speaker Nancy Pelosi.
U.S. jobless claims climb to 260,000 and stick near nine-month high - Market Watch--8.4.22
Around 260,000 people applied for unemployment benefits at the end of July, keeping jobless claims near a nine-month highs. This is another sign that the economy is slowing in response to rising interest rates.
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