labor sector performance

The Fed hits pause on interest rate hikes while it reviews more data

The Fed hits pause on interest rate hikes while it reviews more data

Washington, DC CNN  —  The Federal Reserve said Wednesday it will pause its rate hikes, keeping its benchmark lending rate at a 22-year high, while signaling fewer rate cuts next year. The move was widely expected, after the central bank signaled in recent weeks that it intended to wait for more data to understand how …

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Evergrande’s bankruptcy may be just the beginning of China’s real estate crisis

Evergrande’s bankruptcy may be just the beginning of China’s real estate crisis

New York CNN  —  Evergrande’s US bankruptcy serves as a cautionary tale about the growth-at-all-costs model that underpinned China’s spectacular growth over the past 30 years.  For decades, Evergrande, once one of China’s most successful real estate developers, gobbled up debt as China’s economy exploded. Demand for housing was so strong, homebuilders often pre-sold apartment …

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