New home sales in the U.S. showed a substantial decrease from an upwardly revised level in the month of October, according to a report released by the Commerce Department on Wednesday. The Commerce Department said new home sales plummeted by 8.9 percent to an annual rate of 533,000 in October. more...
In a highly anticipated speech before the Economic Club of New York on Wednesday, Federal Reserve Chairman Jerome Powell described the current level of interest rates as "just below" neutral following a series of rate hikes this year. more...
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