The FED might be more cautious with future rate cuts (October 2024 - Novanews)
While everyone is gearing up for Halloween, it’s also a great moment to check in on the economy and real estate markets.
HOT NEWS
The Fed might be more cautious with future rate cuts.
Nvidia became the world's second most valuable company.
China plans to spend $850 billion to boost the economy.
TODAY'S TOPICS
The Florida housing market is strong after Hurricane Milton.
Walmart’s hometown becomes the next real estate hot spot.
Global trade grows but stays vulnerable to geopolitical tensions.
The world’s oldest piece of cheese has been found.
Black and orange are the colors of Halloween, but their origin is not in the U.S.
QUIZ
1. Why do some people wear their clothes inside out on Halloween?
People believe they'll see a witch at midnight.
People believe it helps them avoid being haunted.
People believe it will attract good luck.
2. Approximately how much do families in the U.S. spend on back-to-school shopping each year?
Fruit
Vegetable
Berry
Root vegetable
3. How much money do Americans spend on dressing their pets up for Halloween?
Around $100 million
Approximately $700 million
$500,000
$500 million
REAL ESTATE
Current mortgage rates
30-year – 6.64%
20-year – 6.48%
15-year – 6.10%
10-year – 5.98%
Real estate news
Bentonville, Arkansas, is quickly becoming a top residential destination. Once known mainly as Walmart’s headquarters, it’s now one of the most desirable places to live in the U.S. The city’s population grew by 2.7% in 2023, with a 9.8% rise since 2020, and experts expect this trend to continue, projecting over 1 million residents by 2050. Learn more
The middle-income class is facing growing pressure from rising housing costs. Data shows that more than two-thirds of new homebuyers are now spending over 30% of their income on housing expenses. Learn more
U.S. ECONOMY
Inflation
Current US inflation rate: 2.44%
Unemployment
Current US unemployment rate: 4.1%
FED rate
Fed funds interest rate: 5%
U.S. economy news
Federal Reserve Governor Christopher Waller emphasized a cautious approach to future interest rate cuts. The topic has been a central focus for some time, with the Fed indicating that future cuts will be more gradual compared to the significant reduction in September. Learn more
Globalization and offshoring of U.S. jobs have led to a decline in the American employment rate. About 66% of U.S. companies outsource at least one department. While American employment remains strong, the economic impact of outsourcing is still significant, with around 300,000 jobs being outsourced annually. Learn more
GLOBAL OUTLOOK
China considers 6 trillion yuan ($850B) bond issue to boost economy. Recent data, such as September’s trade and lending figures, have missed expectations, raising doubts about meeting the annual growth target of 5%. Learn more
Global trade is growing but remains vulnerable to geopolitical tensions. This is especially true for key areas like the Taiwan Strait, which handles over a fifth of global seaborne trade. The WTO warns that conflicts in areas like the Middle East could also impact shipping routes and increase costs for energy and essential goods. Learn more
STOCK EXCHANGE
Stocks recommended by experts
3 top best-performing S&P 500 stocks in October 2024 based on one-year results:
Stock market news
Nvidia became the second-most valuable company in the world. Its value is now $3.4 trillion, which is close to Apple's $3.55 trillion. This growth has also boosted the value of Asian chip companies that supply Nvidia. Learn more
COFFEE BREAK
Fun facts
3 cool facts about Halloween:
Why are black and orange Halloween colors? Celts believed black symbolized summer’s death, and orange represented the fall harvest.
Surprisingly, 1 in 5 Americans avoid answering the door on Halloween night, pretending they're not home.
Harry Houdini, the famous magician, died on October 31, 1926, not from a stunt, but a burst appendix.
Fun news
The world's oldest piece of cheese. During the excavation in Xinjiang, China, archaeologists opened a 3,600-year-old coffin and discovered kefir cheese—the oldest cheese in the world! Cheese lovers clearly existed long before mozzarella and cheddar. Learn more
A horticulture teacher wins again with a 2,471-pound pumpkin. Weeks before Halloween, Travis Gienger claimed his fourth straight win in Northern California, though it fell short of his 2,749-pound record. Learn more
Investor of the month
Meyer (Micky) Malka
Meyer Malka, founder and managing partner of Ribbit Capital, has over 25 years of experience in fintech investment, supporting companies transforming financial services.
His entrepreneurial journey began at 18 with the co-founding of Heptagon Group. He also helped launch Patagon.com (now Patagon Partners), revolutionizing financial services in Latin America, and co-founded Banco Lemon, serving Brazil's underbanked population. Learn more
QUIZ ANSWERS
People believe they'll see a witch at midnight.
Fruit
Approximately $700 million
CONTENT YOU CAN’T MISS
This month’s recommended book
Crashed: How a Decade of Financial Crises Changed the World by Adam Tooze
Financial crises occur often, causing significant economic damage. But what triggers them? To understand today’s global policies, we can look back at the 2008 financial crisis. Historian Adam Tooze traces its origins on Wall Street and how it spread worldwide, leaving a lasting impact.
Recession 2024 signs and how to get ready
Is the recession here? In this video we analyze the latest economic indicators and explain how to protect yourself.
A solution to expensive housing
Trying to buy a house but struggling with affordability? In this video, we’ll explore a solution to expensive housing.
