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Federal Reserve is bumping up interest rates again in an effort to curb inflation, as economists and Americans coast to coast worry about a recession.The more-expensive borrowing rate is expected to cool the hot housing market. Most of your first-time home buyers are gone, Eric Harmon, owner of Crosswind Home Inspection, said. The home buyers that are left, they re going to be super qualified, but they can negotiate a little bit more. They don t have to waive all their inspections. They don t have to give away their firstborn just to get into a burning shack of a house. One real estate broker in California is ready to take the hit. I d much rather take a little bit of short-term pain for the long-term benefit of everyone involved, sai
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d Geoffrey Tackney, broker and
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owner of GMT Real Estate.They re tempering demand to bring down prices on everything, as inflation keeps climbing. We didnt expect a good reading, but this one was even worse than expected, I would say, said Jerome Powell, chairman of the Federal Reserve.Administration economists argue a second quarter of declining GDP would not indicate a recession right now, while other analysts would still call it a recession. There are just too many areas of the economy that are performing too well and, of course, I would point to the labor market, Powell said. Itll be one of the most unusual ones Ive seen because the job market is so strong, economist Dennis Hoffman said.Now, the central bank looks ahead to more poten Irtk 5 killed in NC shooting spree, 15-year-old suspect hospitalized
Thursday marks the one-year anniversary of when the World Health Organization declared the coronavirus a pandemic. Unlike an outbreak or epidemic, a pandemic is a disease that is widespread across multiple regions of the world, and affecting a large number of people. The decision to wait until March 11, 2020, to declare the coronavirus a pandemic was debated, as the WHO was accused for not being more proactive in its declaration.CDC officials on Feb. 24, 2020, warned that the coronavirus would likely become a pandemic.In the weeks between Feb. 24 and March 11, the world largely continued to function as normal. Travelers boarded air planes and cruise ships, sports fans packed stadiu
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ms, entertainers graced stages. But those interactions helped fuel a rapid
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spread of a deadly virus. WHO has been assessing this outbreak around the clock and we are deeply concerned both by the alarming levels of spread and severity, and by the alarming levels of inaction, said Dr. Tedros Adhanom Ghebreyesus, Director-General of WHO, on March 11, 2020. We have therefore made the assessment that COVID19 can be characterized as a pandemic A snapshot at the virus on March 11, 2020At the time the WHO declared the virus a pandemic, there had been 118,000 confirmed coronavirus cases reported in 114 countries, resulting in 4,291 deaths, many of those in the Wuhan region of China.According to Johns Hopkins Universitys global coronavirus tracker, more than 117 million cases of the coronavir
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