Fed reserve increase rates – what it means for you

Published

2 years ago

July 28, 2022

Mortgage repayments in the United States are on the rise again, with the Federal Reserve hiking rates by three-quarters of a percent for the second month in a row

The Fed is trying to push down runaway inflation without creating a recession.

It’s the most dramatic action taken by the Fed since the 1990s, and will impact loan repayments for millions of Americans.

Mortgages, car loans and credit cards will all be impacted.

Markets expected the move after Fed officials telegraphed the increase in a series of statements over recent weeks.

Central bankers say the priority is to bring down inflation, even if it slows down the economy.

Fed Chair Jerome Powell doesn’t believe the US economy is in recession, though growth was negative in the first quarter and was expected to be barely positive in the second quarter.

Mortgage rates have been rapidly climbing since the beginning of 2022, and currently sit at 5.7% for a fixed-rate mortgage.

Threading the needle: Meta’s new platform finally dethrones X

Published

4 hours ago

April 26, 2024

ticker NEWS

Threads, the social media platform owned by Meta, is gaining traction with a surge in daily active users, outpacing X in the U.S.

With Threads averaging 28 million daily active users compared to X’s 22 million, Meta’s ambitions to reach a billion users seem within reach despite a slowdown in growth. While X still boasts 550 million monthly active users globally, Threads’ focus on user experience and avoidance of real-time and political content could position it as a formidable competitor moving forward.

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Zendaya is serving in saucy sports drama

Published

4 hours ago

April 26, 2024

ticker NEWS

This weekend’s entertainment lineup has something for everyone.

Apple TV+ brings “Sugar,” a drama set in New York City, while “Civil War” offers historical intensity. “Challengers” with Zendaya brings a saucy sport drama to life, and superhero buffs can catch “Deadpool and Wolverine” for action-packed fun. With options spanning drama, history, reality, and superheroes, there’s excitement in store for all this weekend.

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Technological terror: China reveals uncanny AI romance film

Published

2 days ago

April 24, 2024

ticker NEWS

As competition intensifies in the streaming landscape, with players like Roku, Vizio, and Samsung launching their ad-supported platforms, TCL aims to carve its niche by offering compelling original content.

TCL, the renowned Chinese smart-TV manufacturer, announces its innovative use of generative artificial intelligence to produce original content for its streaming platform, TCLtvPlus.

Debuting this summer, “Next Stop Paris,” an AI-driven love story, marks the inaugural program from TCLtvPlus Studios