Headlines: 18 June 2022
– The price of an average gallon of gas in the US dips below $5 for first time in a week.
– 30-year fixed-rate mortgage interest rates hit 5.78%, the highest level since late 2008. When will home loan rates fall?
– Bitcoin price falls below $20,000 for the first time since 2020, registering a 32% fall in the last month – See the rise and fall of crypto
– Fed outlines reasons for 0.75 percentage point hike for interest rates – why have they increased rates?
– Pandemic-era relief measure providing free meals for school students comes to an end
– Fed Chair Powell: We are “focused on returning inflation to our 2 percent objective“
– Elon Musk faces $258bn lawsuits for alleged Dogecoin “pyramid scheme”
– Biden may remove certain trade tariffs on China in a bid to reduces prices for consumers
– Real wages fell 0.6 percent while inflation led to an average price increase of one percent across the market in May
– ‘Shrinkflation‘ reduces product sizes for consumers
Helpful links & Information
– Gas prices in US: which countries have the most expensive gasoline?
– When will President Biden make a decision over student loan forgiveness
– Do I have to pay taxes on Social Security benefits? How much?
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