Copper/JPY

Rising mortgage rates and a lack of affordability are prompting a steep drop-off in demand for housing. At the same time inventory for sale is on the rise. A combination of falling transactions and prices will intensify the recessionary forces the US economy is facing. The stimulus-fueled surge in prices looks to be over: House prices nationally have ...

Federal Reserve Bank of Atlanta President Raphael Bostic said he backs raising rates by a further 1.25 percentage points by the end of this year to counter inflation that has been worse than he expected. “The lack of progress thus far has me thinking much more now that we have to get to a moderately restrictive stance,” he told reporters Wednesday via a ...