November jobs report is most important data for inflation this year- and not in a good way

November jobs report is most important data for inflation this year- and not in a good way

The November U.S. jobs report on Friday showed the U.S. economy gained 261,000 jobs last month, with the unemployment rate holding steady at 3.7%. Economists polled by the Wall Street Journal had expected an addition of 200,000 jobs. Wages jumped 0.6% in November, double the expected pace. Below are some initial reactions from economists and … Read more

Home Buyers Could Soon Get $1 Million Mortgage With 3% Down Payment

Home Buyers Could Soon Get  Million Mortgage With 3% Down Payment

To qualify for a $1 million mortgage, Americans typically have to make a down payment of at least 20% of the home’s price. Starting next year, some buyers could put as little as 3% down. The cap for home loans backed by Fannie Mae FNMA 3.04% and Freddie Mac FMCC 2.88% rises to $1,089,300 next … Read more

Fed’s shrinking of balance sheet via quantitative tightening is ‘a complete mistake,’ says Mizuho

Fed’s shrinking of balance sheet via quantitative tightening is ‘a complete mistake,’ says Mizuho

The Federal Reserve’s attempt at shrinking its balance sheet through so-called quantitative tightening, or QT,  is “a complete mistake,” according to Mizuho’s chief economist for the U.S. “There is a nontrivial probability that market liquidity will be adversely affected well before the targeted $2 trillion has been rolled off, preventing the Fed from accomplishing its … Read more

Crypto Entrepreneurs Fail to Capture Elon Musk’s Attention With $600,000 Goat Statue

Crypto Entrepreneurs Fail to Capture Elon Musk’s Attention With 0,000 Goat Statue

AUSTIN, Texas—Even as a cold night started to settle outside Tesla ‘s headquarters here on Saturday, a group of cryptocurrency entrepreneurs had no plans to leave until Elon Musk, the man they named their currency after, accepted a 12,000-pound sculpture of a Mr. Musk-headed goat riding a rocket. It is the latest stunt in the … Read more

Fed Minutes Show Most Officials Favored Slowing Rate Rises Soon

Fed Minutes Show Most Officials Favored Slowing Rate Rises Soon

WASHINGTON—Most Federal Reserve officials thought they should slow the pace of interest-rate increases after approving a 0.75-percentage-point rate rise at their meeting earlier this month to battle high inflation. Their discussion at the meeting, described in minutes of the gathering released Wednesday, suggests they could downshift to a rate rise of 0.5 percentage point, or … Read more

Central banks must buy bitcoin to hedge against sanctions: Harvard Ph.D. candidate

Central banks must buy bitcoin to hedge against sanctions: Harvard Ph.D. candidate

A research paper published at Harvard University is advocating that central banks should buy bitcoin BTCUSD, +2.56% as a hedge against sanctions by other countries. The paper, titled “Hedging Sanctions Risk: Cryptocurrency in Central Bank Reserves,” was authored by Ph.D. candidate Matthew Ferranti from Harvard’s economics department, and likens central banks’ gold reserves to potential … Read more

They Lived Together, Worked Together and Lost Billions Together: Inside Sam Bankman-Fried’s Doomed FTX Empire

They Lived Together, Worked Together and Lost Billions Together: Inside Sam Bankman-Fried’s Doomed FTX Empire

The emerging picture suggests FTX wasn’t simply felled by a rival, or undone by a bad trade or the relentless fall this year in the value of cryptocurrencies. Instead, it had long been a chaotic mess. From its earliest days, the firm was an unruly agglomeration of corporate entities, customer assets and Mr. Bankman-Fried himself, … Read more

Bankrupt FTX Fires Three of Sam Bankman-Fried’s Top Deputies

Bankrupt FTX Fires Three of Sam Bankman-Fried’s Top Deputies

FTX, the cryptocurrency exchange launched by Sam Bankman-Fried, said it fired three of the founder’s top deputies. Gary Wang, an FTX co-founder and its chief technology officer; FTX engineering director Nishad Singh; and Caroline Ellison, who ran Mr. Bankman-Fried’s trading arm, Alameda Research, were terminated from those roles after FTX tapped John J. Ray to … Read more

Idina Menzel – Love Power (End Credit Version) (From "Disenchanted"/Visualizer Video) – DisneyMusicVEVO

Idina Menzel – Love Power (End Credit Version) (From "Disenchanted"/Visualizer Video) – DisneyMusicVEVO

Idina Menzel – Love Power (End Credit Version) (From “Disenchanted”/Visualizer Video)  DisneyMusicVEVO ‘Disenchanted’ Trailer: Idina Menzel Is Belting Out Her New Song “Love Power”  Collider VIDEO: Idina Menzel Sings New DISENCHANTED Song ‘Love Power’ in Clip  Broadway World Idina Menzel stars in ‘Disenchanted’ on Disney+  ABC 7 Chicago WATCH: Idina Menzel talks about reuniting with ‘Enchanted’ cast in ‘Disenchanted’ … Read more

BlockFi Prepares for Potential Bankruptcy as Crypto Contagion Spreads

BlockFi Prepares for Potential Bankruptcy as Crypto Contagion Spreads

Cryptocurrency lender BlockFi Inc. is preparing a potential bankruptcy filing after halting withdrawals of customer deposits and acknowledging it has “significant exposure” to bankrupt exchange FTX, people familiar with the matter said.  BlockFi paused withdrawals and limited activity on its platform last week, saying it couldn’t operate business as usual given the uncertainty about FTX. … Read more