Cleveland Fed President Beth Hammack says policy may need to tighten further to bring inflation back to 2%, warning that businesses are increasingly passing costs to consumers. She favors small, frequent rate moves over abrupt shifts.
China's foreign reserves rose to $3.4 trillion in September while the central bank added another 23 tonnes of gold, extending a 23-month buying streak. The mix of steady reserves and persistent bullion purchases is drawing attention from global markets.
A worldwide bond selloff has reached Europe, pushing French and UK borrowing costs to multi-decade highs. The moves highlight growing anxiety over government debt loads and fiscal plans.
Fannie Mae data show the average 30-year fixed US mortgage rate climbing to 7.28% in the first week of October, up from 7.03% a week earlier. It marks the highest level since November 22, 2023, deepening the affordability squeeze on homebuyers.
You've reached the end
