The head of the World Bank has warned that Russia’s invasion of Ukraine could cause a global recession as the price of food, energy and fertiliser jump. David Malpass told a US business event on Wednesday that it is difficult to “see how we avoid a recession”. He also said that a series of coronavirus […]
Kitsap Update
US stocks rally as Fed minutes meets expectations.
KITSAP COUNTY- Wall Street closed higher Wednesday, boosted after minutes from the Federal Reserve’s latest monetary policy meeting showed policymakers unanimously felt the United States economy was very strong as they grappled with reining in inflation without triggering a recession. Most Federal Reserve officials agreed at their gathering this month that the central bank needed […]
KITSAP COUNTY GAS PRICES CONTINUE TO HIT RECORD HIGHS.
The average price of regular gas in the Bremerton metro area reached $5.201 per gallon, slightly higher than the average price in Washington state, which was $5.196 per gallon on Friday, according to AAA. The highest gas price in Kitsap County on Friday appeared in Port Orchard, where Shell on Mullenix Road got up to $5.44 per gallon. Some gas stations in North Kitsap, South Kitsap, Central Kitsap and Bainbridge Island have […]
Adjustable-rate mortgages are becoming more popular as rates soar.
Rising interest rates are making adjustable-rate mortgages an increasingly attractive alternative to common 30-year, fixed-rate home loans. As interest rates on traditional fixed-rate 30-year mortgages climb higher and higher, an increasing number of buyers are turning to adjustable-rate mortgages in hopes of getting a better deal. But while the potentially lower rates these mortgages can offer may […]
U.S. Stock markets fall sharply as investors worry about recession.
U.S. stocks fell sharply, with two of the major indexes suffering their worst day since 2020, as the latest set of disappointing earnings from large retailers raised investors’ fears of a recession. The Dow Jones Industrial Average closed Wednesday down 1164.52 points, or 3.6%, to 31490.07, its lowest closing level since March 2021. The S&P […]
The US could be on the verge of recession, warns former Goldman Sachs CEO: Should the world be worried?
Goldman Sachs Senior Chairman Lloyd Blankfein, in a recent interview, said that the US is at a “very, very high risk” of a recession. Many factors have led up to this but no one knows when the recession will arrive or how severe it could be. Will a recession in the world’s largest economy affect […]
Reasons why small businesses should use Text Messaging to reach clients.
Text messaging has overtaken the use of direct calling yet still provides a 2-way personal conversation. According to mobile squared, 90% of text messages are opened and read within 3 minutes. That kind of attention to marketing material is gold dust to businesses. As a marketing tool, SMS has really grown in stature. In recent years […]
US Fed warns of worsening market liquidity in stability report
The Federal Reserve warned of deteriorating liquidity conditions across key financial markets amid rising risks from the war in Ukraine, monetary tightening and high inflation in a semi-annual report published on Monday (May 9). “According to some measures, market liquidity has declined since late 2021 in the markets for recently issued US cash Treasury securities […]
What Are the Causes of Inflation?
Inflation has many causes, but they mainly break down into two camps: demand-pull and cost-push. Demand-pull happens when an increase in the demand for goods and services leads producers to raise prices to maximize profits. Cost-push occurs when producers raise prices because their costs have gone up. Over time, inflation can significantly impact your cost […]
US Fed raises rates by 50 bps, biggest hike in two decades
The US Federal Reserve on May 4 raised the benchmark lending rate by 50 basis points, in what is being viewed as the sharpest increase in over two decades. The increase in the Fed’s key rate raised it to a range of 0.75 percent to 1 percent, the highest point since the pandemic struck two years ago. The half-point […]