US housing market ‘in much worse shape’ than Fed admits: economist

The Federal Reserve’s policy tightening has sent the US housing market into a slump – and policymakers have yet to fully recognize the scale of the problems, according to a leading economist. Ian Shepherdson, chief economist at Pantheon Macroeconomics, provided a bearish outlook for homeowners after federal data showed sales of new single-family homes bottomed … Read more

Dow: Stocks fall on fear of another big Fed rate hike

New York CNN Business — We might as well hope that the Federal Reserve will rein in its aggressive interest rate hikes. Shares fell on Monday as investors began to fear again that the central bank could raise rates by three-quarters of a point next month. The Dow ended the day with a loss of … Read more