Sora’s Top Personal Finance News Articles
Week of 11/7
Each week, we are giving you Sora’s weekly report highlighting top insights and relevant articles. This week’s roundup is about October’s inflation report, the slowing of home-price growth, economic resilience in the job market, the FTX fiasco, and student loan forgiveness updates.
October Inflation Report Shows Consumer Prices Rose 7.7% From Year Earlier (Gwynn Guilford & Nick Timiraos, The Wall Street Journal)
“Inflation eased last month to the slowest pace since January but remained high, which could keep Federal Reserve officials on track to start slowing the pace of interest-rate rises aimed at taming price pressures.” Read more for insight into Thursday’s market rally.Home-Price Growth Slows Under Tide of Rising Mortgage Rates (Nicole Friedman, The Wall Street Journal)
“U.S. home-price growth slowed sharply in the third quarter, the National Association of Realtors said Thursday, as home-buying affordability remained near its lowest level in decades.” Read more to see how mortgage rates are affecting your home's price.
U.S Added 261,000 Jobs In October, Signaling Economic Resilience (Sydney Ember, The New York Times)
Job growth is slowing but remains stronger than comfortable for the Federal Reserve, which is trying to tame high inflation. Read more to see where the US economy stands with regards to a recession.
FTX Implosion Rattles Retail Investors Who Fear Their Money Is Gone (Claire Ballentine & Jeremy Hill, Bloomberg)
For retail traders who poured their life savings into crypto, the stunning demise of Sam Bankman-Fried’s FTX.com is a worst-case scenario. Read more to understand how FTX’s downfall has affected the crypto market.
Already Applied For Student Loan Forgiveness? 6 Key Updates (Adam S. Minsky, Forbes)
Some millions of borrowers have applied for Biden’s student loan forgiveness plan. But no one has received any student loan forgiveness yet under the program, and the situation remains fluid for borrowers. Read more for key updates.
