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PROPTECH INV CORP II C/WTS (TO SUB FOR ORD) | 8-K: APPRECIATE ANNOUNCES PRELIMINARY RESULTS FOR THE FIRST QUARTER ENDED MARCH 31, 2023
The median income of the United States fell in 2020 and poverty intensified.
The median household income in the United States fell and the poverty rate rose in 2020, according to a government survey released on Tuesday. The survey helps quantify the impact on Americans' finances after the COVID-19 epidemic severely disrupted the U. S. economy. The median real household income in the US fell to $67500 in 2020, down 2.9 per cent from 2019, according to the Census Bureau. The report also shows that the poverty rate in the United States rose to 11.4 percent from 10.5 percent in 2019, the first increase after five consecutive years of decline.
The Bank of England turns to hawks to rekindle sterling's rally ahead of a new outbreak
Thanks to the Bank of England's shift to hawks, the pound is about to enter a new period of strength against the euro. Traders' expectations for an interest rate hike in February rose to 60 per cent; the Bank of England made it clear last week that the countdown to an era of ultra-low borrowing costs would begin. That gives the pound the potential to break through £0.85 to the euro, its highest level since February 2020, a barrier it has failed to break since early April. The pound rose 4.2 per cent against the euro in the first half, the biggest gain since 2015, but has stalled recently. In the past month, the number of Covid-19 infections in the UK has soared, forcing people to watch
Atlanta Fed President: he "often" hears rumors of becoming chairman of the Federal Reserve.
Raphael Bostic, president of the Federal Reserve Bank of Atlanta, said he often heard speculation that he might be nominated to lead the Federal Reserve. "I hear that a lot," he said in an interview with Axios. President Joe Biden has not yet revealed who he will nominate for chairman of the Federal Reserve. But as the first black to become a regional Fed governor, Bostic would make history again if nominated. The term of office of Jerome Powell, the current Fed chairman, expires in February. According to a Bloomberg survey in April, about 3/4 of economists expect Biden to let Powell stay.
New evidence of US inflation the Philadelphia Fed survey shows that the price index is the highest in 40 years.
Companies plan to raise product prices and new employee capital, and inflationary pressures are intensifying. Due to persistent capacity constraints, the number of outstanding orders surged to the highest level since 1973, according to a report by the Philadelphia Federal Reserve. Inflationary pressures are intensifying as companies plan to raise product prices and new employee capital. The Philadelphia Fed's latest manufacturing survey shows that rising input costs for producers pushed the price index to its highest level in 40 years in May. The data also showed that the price index paid this month soared to its highest level since March 1980. Nearly 77% of companies report input costs
Fed survey: 1/3 banks have limited balance sheet size
According to a march survey of financial executives released by the federal reserve on Thursday, 1/3 of respondents said their banks had taken action to limit the size of their balance sheets and expected their banks to continue to do so. Another 1/3 of respondents said they would take action to maintain or reduce the size of the balance sheet if it increased. Almost half of those who talked about limiting the size of their balance sheets identified net interest margin pressure and return on assets as important or very important factors affecting the decision. Of those who took part in a previous survey last September, 40% reported that the last few months of 2020