Headlines | Thursday, 6 July 2023
– Federal Reserve expected to raise interest rates later in July
– Layoffs fall to seven-month low in June
– FTC warns of scams following Supreme Court’s 6-3 ruling against Biden’s Student Loan Forgiveness Program
– 16 million student loan borrowers had debt relief approved, what will happen now ?
– When do student loan repayments restart ?
– PCE data shows both headline and core inflation declined in May year-on-year to 3.8% and 4.6%, respectively
– The weekly average mortgage rate ticked up to 6.71% for 30-yr FRM
– Initial unemployment claims dropped to 239,000, a decrease of 26,000 from a week prior
– Fed Chair Powell doesn’t discount two consecutive rate hikes in future
– US consumer confidence jumps to highest level since January 2022
– Dates for Social Security payments in July