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Kroger CEO Says He Expects Normal Levels of Food Inflation in 2021 But That Prices May Be Volatile
Kroger CEO Rodney McMullen told CNBC on Thursday he does not anticipate problematic food inflation in 2021 but that month-to-month prices may be volatile.
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Monthly Auto Loan Payments Surge to Record Highs as Borrowing Hits Biggest One-Year Jump, Experian Says
The average monthly new auto loan payment is approaching $600 according to Experian, which analyzes millions of new and used vehicle loans.
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Mortgage Application Demand Stalls as Interest Rates Surge to Highest Level Since July
Mortgage interest rates rose at the fastest pace last week in over a year, throwing cold water on already cooling demand.
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11 Senate Democrats Push Biden to Include Recurring Checks, Jobless Aid in Next Big Bill
A group of Democrats want sustained direct stimulus checks and unemployment support tied to economic conditions in President Biden’s recovery plan.
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The $7.25 Minimum Wage Can't Pay All the Bills in Any State
Democrats are shelving their plans for a $15 federal minimum wage for now. The current minimum, $7.25, isn’t a living wage for full-time workers in any state.
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How Covid-19 Caused a Global Shortage of Semiconductors and Computer Chips
It’s not an overstatement to say that semiconductors power the modern world. They’re not only a key component of nearly every electronic device we buy and use, they also power the factories that make the electronic devices we buy and use. And now, there aren’t enough of them being made. To find a long-term fix, President Joe Biden just...
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Goldman Says Investors Shouldn't Worry About Interest Rates at These Levels
Rising interest rates that shook investors are well short of anything that poses a broader threat to the market, according to Goldman.
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House Passes $1.9 Trillion Covid Relief Bill, Sends It to Senate
House Democrats approved their $1.9 trillion coronavirus relief bill as the party tries to get the rescue package to President Joe Biden.
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House Set to Approve Biden's $1.9 Trillion Stimulus Package, Send Bill to the Senate
Democrats are trying to pass the $1.9 trillion relief bill, which includes direct payments and unemployment benefits, by March 14.
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You Can Now Buy a 3D-Printed Home – Here's a Look Inside
A New York homebuilder has put a 3D-printed home on the market for the first time in the United States, and he is getting a lot of offers.
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Weekly Mortgage Application Volume Drops 11% as Rates Spike and Texas Power Outages Hurt Demand
Total mortgage application volume fell 11.4% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.
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December Home Prices Rose 10.4%, the Biggest Gain in 7 Years, Case-Shiller Says
December is usually the slowest month for the housing market, but price gains didn’t slow down one bit in 2020.
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Many Americans, Especially Families, Can't Live on a $15 Minimum Wage
Democrats are pushing to get a $15 federal minimum wage into President Joe Biden’s Covid relief package. For many, that pay still wouldn’t be enough.
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Here's How Congress Could Avert Another Jobless Benefits Cliff as It Moves to Pass Covid Relief
President Joe Biden called for extra unemployment benefits to phase out based on economic or health metrics. But there’s one problem: Which metric to use?
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Some Texans Use 2021 Ford F-150 Hybrid Pickup Trucks to Power Homes Amid Winter Storm
“It would have been three miserable days without the truck,” Jerry Hall, 73, of Kerrville, Texas, said in a phone interview.
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Existing Home Sales Rise Slightly in January, But Record Low Supply Weighs on Market
After a brief pullback in December, homebuyers returned to the market, although they are still being hampered by record low supply.
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Biden Tax Hikes Would Likely Phase in Slowly, Treasury Secretary Yellen Says
Treasury Secretary Janet Yellen said Thursday that any tax increases sought by the Biden administration would be introduced gradually.
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Generac CEO Says Demand for Power Generators Is High: ‘We Can't Make Them Fast Enough'
Extreme winter weather in the South and resulting power outages increase demand for generators, Generac CEO Aaron Jagdfeld said.
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Mortgage Demand Falls Further as Rates Rise at the Fastest Pace in Months
The average contract interest rate for 30-year fixed-rate mortgages increased to 2.98% from 2.96% last week. Total mortgage application volume fell 5.1% last week from the previous week, according to the Mortgage Bankers Association. Applications to refinance a home loan fell 5% for the week. Mortgage applications to purchase a home fell 6% for the week. Another week of rising…
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Biden Extends Protections for Homeowners. Here's What You Need to Know
Struggling homeowners received some welcome news Tuesday, with the Biden administration announcing it will extend forbearance and foreclosure relief.