New York Federal Reserve President John Williams on Thursday said inflation is still too high, but he is confident it will start decelerating later this year. With markets on edge over the direction of monetary policy, Williams offered no clear indication of his position on possible interest rate cuts. Instead, he reiterated recent positions from the central bank that it ...
Signed sales contracts on existing homes dropped 7.7% in April compared to March, the slowest pace since April 2020, according to the National Association of Realtors. These so-called pending sales are a forward-looking indicator of closed sales one to two months later. Pending sales were 7.4% lower than in April of last year. Sales were expected to be flat compared ...
Tesla is recalling 125,227 vehicles in the United States due to a malfunction in its seat belt warning system that can increase the risk of injury in a collision, the National Highway Traffic Safety Administration said on Friday. The regulator said the vehicles failed to comply with the federal safety requirements as their seat belt warning light and audible chime may ...
Retail’s biggest winners during first-quarter earnings aren’t thriving because consumers are suddenly spending more on discretionary goods — it’s because they’re executing well and cash-strapped shoppers are choosing them over competitors. If there’s one takeaway from results posted by the largest U.S. retailers over the last few weeks, it’s that shoppers are still spending — but being far more selective about where. Feeling the ...