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Top U.S. News

Inflation Expectations Sink to Lowest Level in Two Years

The latest consumer sentiment survey from the University of Michigan showed that U.S. consumers are expecting inflation to be 3.1% in a year; a rapid decline from the 4.5% expected last month. This is the strongest consumer confidence exhibited since March 2021, just slightly...

Fed Chairman Jerome Powell Says There Will Be No Interest Rate Cuts Soon

There has been an overwhelming optimism among investors that the Federal Reserve is done with its interest rate hikes, as recent stock market trends show. Some even believed that interest rate cuts could follow soon. However, that won't be the case, according to Fed...

U.S. GDP Growth Hits 5.2% in Third Quarter

U.S. economic growth for the third quarter of 2023 hit 5.2% on an annual basis, outperforming the government's expectation of 4.9% growth. This is a sharp rise from the 2.1% economic growth attained from April through June as well as the largest U.S. GDP...

Bank of America Hit With $12 Million Fine for Submitting Inaccurate Mortgage Information

The U.S. Consumer Financial Protection Bureau (CFPB) announced on Tuesday that Bank of America accepted to pay a $12 million fine for submitting inaccurate information about its mortgage applicants. According to CFPB, Bank of America loan officers failed to ask applicants routine questions about certain...

Moody’s Lowers U.S. Credit Rating to Negative

Ratings agency Moody's decided to lower its outlook on the U.S. credit rating from "stable" to "negative" as federal spending contributes to a larger fiscal deficit. A rise in government spending rocked investors' confidence, leading to a government bond selloff that took their prices...

U.S. Job Growth Expected to Halt, Impacting Fed Decision

Government data has shown that U.S. job growth is slowing, pushing Federal Reserve policymakers to reassess their monetary policy. Payrolls in the US rose by 190,000 in October, showing that jobs are still on the rise but at a decreasing rate compared to the...