economic situation

White House cautiously optimistic about economy in 2023: ‘Absolutely no sign’ of job growth collapsing or unemployment rising – CNN | NutSocia

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CNN — As Wall Street and Main Street fret over a possible recession, White House officials are exuding confidence in the economy’s ability to weather the 2023 storm. “We’re cautiously optimistic because we’re starting to see some really concrete, measurable signs of progress,” Aviva Aron-Dine, deputy director of the White House National Economic Council, told … Read more

What is driving the behavior of home buyers and sellers? – Builder Magazine | NutSocia

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Adobe Stock The days of the turbocharged pandemic housing market are behind us as mortgage rates have doubled since the 2021 lows, the moving boom is cooling and monthly housing payments have become prohibitive for many. We are now entering a new phase in the housing market, which can be described as a dead end. … Read more

Republicans will control the House of Representatives, but there’s not much they can do to fix the economy quickly – CNN | NutSocia

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CNN — Republicans in Congress have repeatedly blamed President Joe Biden and their Democratic counterparts for rising inflation and the troubled economy. But even though the GOP seized control of the House of Representatives in the midterm elections, albeit by a very slim margin, there’s not much the party can do to cut prices quickly … Read more

Fed and White House unite for day that gets to the heart of Biden’s policy issue – CNN | NutSocia

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CNN — Two centers of power in Washington on Wednesday will reveal the politically toxic dynamics of the key economic issue threatening President Joe Biden’s congressional majorities with midterm elections less than a week away. The Fed is likely to trigger another historic rate hike, and Biden will host an event about a half-mile away … Read more